Lenovo's acquisition plans firmly on track

Hong Kong: Lenovo Group, the world's No 4 personal computer maker, is ready to make its next major acquisition despite a slowing global economy, the South China Morning Post newspaper said on Tuesday.

"Although we remain cautious, it is time for us to take on another challenge," the newspaper quoted Chief Financial Officer Wong Wai Ming as saying.

It was the strongest hint to date of China's largest PC maker, which bought IBM's PC arm in 2005 for $1.25 billion, moving to consolidate the industry.

Media reports said last month that Siemens was planning to sell its stake in the Fujitsu Siemens Computers joint venture to joint venture partner Fujitsu.

Fujitsu would then sell on the end-customer business of the joint venture as it is mostly interested in the commercial customer business, and Lenovo is seen as a possible buyer.

Wong declined to identify potential targets, but noted market speculation about Lenovo potentially buying Fujitsu Siemens Computers had been heating up, the newspaper said.