Lenovo backtracks on possible RIM bid

Lenovo RIM Acquisition Rumor

Lenovo CFO Wong Wai Ming made comments last week that the company might consider an acquisition of struggling BlackBerry maker Research In Motion (RIMM) in an effort to bolster its mobile business. According to a statement released to The Next Web on Monday, however, Lenovo is not actually considering a bid for RIM. Lenovo says Wong was just “speaking broadly” while fielding questions from a reporter. “Lenovo is very focused on growing its business, both organically and through M&A,” a company spokesperson said. “When inorganic ideas arise, we explore them to see if there is a strategic fit.” Lenovo’s full statement follows below.

In general, we do not comment on M&A rumors or speculation.

We are aware that Lenovo’s CFO [Wong] Waiming was speaking broadly about M&A strategy in a recent interview. RIM was raised as a potential target by the journalist and Mr. Wong repeatedly answered in a manner consistent with all of our previous statements on M&A strategy: Lenovo is very focused on growing its business, both organically and through M&A. When inorganic ideas arise, we explore them to see if there is a strategic fit.

Source:
The Next Web
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