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Article: LENOVO GROUP SHORTENS LOCK-UP PERIOD OF IBM-HELD SHARES

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AsiaInfo Services
Article date:
June 2, 2006
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AsiaInfo Services
06-02-2006
lenovo+group+ltd[(lnvgy)]\ international+business+machines+corp.[(ibm)]

Lenovo Group Shortens Lock-up Period of IBM-held Shares

HONG KONG, Jun 02, 2006 (SinoCast via COMTEX) -- Lenovo Group Ltd. (SEHK: 0992), the world??s third largest PC maker, announces it has changed the lock-up period agreement with IBM, allowing the latter to sell out no more than two-thirds of common shares it held from May 25, 2006.

At the end of 2004, China-grown Lenovo Group acquired the PC sector of IBM with a consideration of USD 650 million in cash and USD 600 million in common stocks. Then, IBM, the blue giant, became the second largest shareholder of Lenovo Group. However, it seems ...

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