Positivo denies Lenovo takeover once again

- Monday, January 17, 2011

Positivo denies Lenovo takeover once again

Brazilian computer manufacturer Positivo Informatica has again denied rumors of the company's sale.

Vice-president of financing and director of investor relations Ariel Leonardo Szwarc said in a letter to stockholders that the market rumors had "no foundation whatsoever, given that there is no ongoing negotiation."

Szwarc confirmed atypical price fluctuations and increases in the trading of Positivo shares, occurrences that led local media outlets to speculate about a takeover by Chinese PC maker Lenovo. Szwarc declined, however, to offer causes for the unusual activity.

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Positivo has repeatedly denied reports of an impending acquisition by Lenovo. Faced with increased competition from multinationals in the Brazilian market, Positivo has recently struggled with massive layoffs and drops in net profits.