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December 07, 2004

Virgin Seeks Ally in China

Earlier today IBM announced the sale of its PC division to the Chinese PC maker, Lenovo Group Ltd. Lenovo is China’s biggest computer maker and hopes to use the IBM brand to bolster its recently weak performance. However, this was not the only company that announced its intention of creating an Anglo-Sino alliance to take advantage of developing Chinese technology.   

 

According to the Guardian, Virgin Group announced today that it is in negotiations with several Chinese telecoms to form a joint venture in order to set up a network in China. The proposed deal would create an independent entity half owned by Virgin at a cost of around $300 million.

The group’s famed chairman, Richard Branson, states that this is a long term project which could take up to 12-18 months for it to even launch. This anticipated launch date is conveniently near the time when the Chinese government is expected to announce the number of licenses it will issue for third generation mobile service.

Posted by Quentin Johnson at 09:01 PM in Alliances | Permalink

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