China's Lenovo, the world's fourth largest personal computer maker, suspended trading on the Hong Kong stock market on Wednesday, amid speculation of an imminent restructuring.
The company was expected to restructure its operations due to weak performance amid global slowdown, reported the "Caijing" magazine website on Dec. 31, adding that a plan would be announced on Jan. 8.
It was understood the company would merge its Asia Pacific operations with its Greater China and Russia operations, the website reported, citing unnamed company officials.
Chen Shaopeng, Lenovo's president for the greater China region, was expected to be appointed head of the new division, according to the website.
Lenovo public relations manager Chen Ji told Xinhua Wednesday he would not comment on the reports.
Lenovo reported weaker than expected results in the fourth quarter of 2008, with net income growth failing to meet analysts' expectations.
Source:Xinhua
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