ECONOMICS REPORT - US Clears Sale of IBM Division to Lenovo
ECONOMICS REPORT - US Clears Sale of IBM Division to Lenovo
By Mario Ritter
Broadcast: Friday, March 25, 2005
I'm Gwen Outen with the VOA Special English Economics Report.
A United States government committee has approved a deal that will make the Chinese company Lenovo Group Limited the third biggest computer maker 1 in the world. Lenovo and the American information technology company International Business Machines announced the deal in December.
Lenovo agreed to buy the personal computer business of IBM for about one thousand seven hundred fifty million dollars. IBM would receive nineteen percent ownership of Lenovo in return. And Lenovo would move its headquarters from Beijing to New York. But at the time, it was not clear if the deal would be approved.
Several American lawmakers had raised concerns about the deal in a letter to Treasury 2 Secretary John Snow in January. Three United States representatives signed the letter. It said the Chinese government reportedly controlled a main shareholder 3 of Lenovo, Legend Holdings.
The lawmakers asked the Committee on Foreign Investments in the United States to investigate the deal. They said the deal could involve giving China new technology. They noted 4 that sales rights and government sales agreements could pass to the foreign-owned company.
The Committee on Foreign Investments in the United States held meetings on the deal. The meetings were not open to the public. The Wall Street Journal newspaper said the committee spent more time than usual considering the effects of the deal.
On March ninth, IBM and Lenovo announced that the committee would not object to their plan. Reports say the committee did place some restrictions 5 on the deal. Lenovo and IBM employees will work in separate buildings at a shared complex near Raleigh, North Carolina.
The Committee on Foreign Investments in the United States is in the Department of the Treasury. It has twelve members including the secretaries of State, Defense 6, Commerce, and the Treasury. The Attorney General and the United States Trade Representative are also members.
The committee was established in nineteen seventy-five. It was formed to consider and possibly investigate foreign investment in America. Its job is to confirm that national security is not affected 7 by the sale of sensitive businesses or investments to foreign interests.
This VOA Special English Economics Report was written by Mario Ritter. This is Gwen Outen.
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- A cabinet maker must be a master craftsman.家具木工必须是技艺高超的手艺人。
- The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
- This book is a treasury of useful information.这本书是有价值的信息宝库。
- The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
- A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。
- The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
- Jim is noted for arriving late for work.吉姆上班迟到出了名。
- I found the restrictions irksome. 我对那些限制感到很烦。
- a snaggle of restrictions 杂乱无章的种种限制