In a historic deal, China's dominant personal computer maker, Lenovo Group, announced today that it paid out $650 million in cash, $600 million in stock, and taken on $500 million in IBM debt in acquiring the US giant's personal computer division PCD.
The deal means that for the first time ever, a Chinese company will become a global brand. That is a significant move up the value scale of an economy which has proved its manufacturing prowess but has so far failed to obtain recognition in the higher margin, but subtle and tricky art of brand building.
It follows another Chinese deal - the as yet...
