Lenovo ditches bid for Brazil's Positivo

Chinese computer maker Lenovo Group confirmed yesterday it has abandoned bids for the Brazilian PC vender Positivo Informatica citing the current economic uncertainties.

The world's fourth largest PC maker said in a statement that it is now impossible to reach any deal with the Brazilian computer maker because of uncertainties brought about by the financial storm. But it said it remains interested in building strategic cooperation with Positivo.

Lenovo was reported last week to offer $833 million for acquiring Positivo Informatica, Brazil's largest PC maker.