Lenovo shares dive on Sony Vaio PC buy report

Reuters News
Posted: Feb 03, 2014 9:35 PM

HONG KONG (Reuters) - Shares in Lenovo Group Ltd fell as much as 15 percent on Tuesday after a weekend media report said the Chinese personal computer maker was in talks with Japan's Sony Corp about a possible joint venture to buy Sony's loss-making Vaio PC business overseas.

Lenovo shares were down 12.5 percent at HK$8.80 by 0205 GMT, adding to last Thursday's 8.2 percent fall.

Japanese electronics and media giant Sony Corp called the report inaccurate but acknowledged it was looking at various possibilities for Vaio.

Lenovo could not be reached for an immediate comment.

Last week, Lenovo announced the acquisition Google Inc's Motorola Mobility handset unit for $2.91 billion, striking its second overseas purchase in a week.

(Reporting by Clement Tan and Denny Thomas; Editing by Paul Tait)