China approves USD 2.3 billion Lenovo-IBM deal, US nod awaited

The Chinese Ministry of Commerce's anti-monopoly bureau has approved Lenovo Group's proposed $2.3 billion deal to buy IBM Corp's low-end server business.

The deal, announced in January, "is expected to be completed by the end of the year", Lenovo Chief Executive Yang Yuanqing has said.

It still requires US regulatory approval though.

(Reuters)