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October 6, 2016updated 13 Jan 2017 12:00pm

Lenovo takeover rumours boost Fujitsu shares 7%

Fujitsu confirmed that they are looking at various possibilities.

By Ellie Burns

Rumours of Lenovo acquiring Fujitsu has seen shares in the Japanese electronics company jump more than 7%.

Chinese firm Lenovo has not confirmed the deal, but the Japanese giant did give some credence to the rumours by releasing a statement, saying:

“Since yesterday, there has been media reports concerning Fujitsu’s PC business. These reports are not based on any official announcement made by Fujitsu.

“In February of this year, Fujitsu split off its PC business and is currently considering various possibilities, including what is being reported, but a decision has not yet been made. Fujitsu will promptly announce matters that require disclosure as they arise.”

According to reports by Japanese newspaper The Nikkei, the takeover deal could be fujitsucompleted as early as this month.

The rumoured deal with Lenovo follows initial talks which Fujitsu held with Toshiba and Sony. The three companies were reportedly considering a merger of all three businesses, creating a business which would potentially control over 30 percent of the Japanese PC market, overtaking Lenovo. The deal, however, fell through when an agreement could not be reached.

Fujitsu sit a way behind Lenovo in the computer business stakes, with the former accounting for over 6% of global computer shipments, compared to Lenovo’s share of 21.2%. Lenovo, however, are looking to bounce back from some disappointing quarters. Lenovo saw its revenues drop 6 percent in Q1 as it blamed a wider slowdown in its core markets. The PC and Smart Device Business Group saw revenues fall 7 percent to $7 billion, in the mobile business group they fell 6 percent to $1.7 billion and in the data centre business group sales rose 1 percent to $1.1 billion.

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