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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Lenovo Buys $614 Mln Stake in PCCW Digital Units for IT Services Growth

Lenovo PCCW Hong Kong
A man uses his laptop next to Lenovo's logos during the Mobile World Congress in Barcelona, Spain February 25, 2016. (Reuters)

Chinese personal computers maker Lenovo Group is acquiring stakes worth $614 million in two digital units of Hong Kong telecoms firm PCCW Ltd, betting that a post-COVID recovery and hybrid work model will drive IT services demand.

Lenovo, the world's largest maker of personal computers, said in a statement late on Tuesday it will buy an 80% stake in Digital Era Enterprises and a 20% stake in PCCW Network Services, a holding company for a unit that provides technology solutions to government entities in Hong Kong.

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