Chinese firm bids for IBM PC biz

Chinese computer giant, Lenovo is attempting to take over global information technology giant IBM Corporation's personal computer business operations, media reports said in Beijing on Tuesday.

Hong Kong-listed Lenovo Group did not name the company with which it is holding talks in a statement released by the Hong Kong's stock exchange on Tuesday, saying the negotiations were confidential.

But Lenovo described the firm as a "major international company in the information technology industry."

"Such discussions are at an advanced stage but no definitive agreement or letter of intent has yet been signed," the statement said.

Trading of Lenovo on the Hong Kong bourse was suspended on Monday pending announcement of the talks, media reports from Hong Kong said.