Lenovo shares dive 15% on report it will buy Sony's loss-making Vaio business

HONG KONG (REUTERS) - Shares in Lenovo Group fell as much as 15 per cent after a weekend media report said the Chinese personal computer maker was in talks with Japan's Sony about a possible joint venture to buy Sony's loss-making Vaio PC business overseas.

Lenovo shares were down 12.5 per cent at HK$8.80 by 10.05am Singapore time, adding to last Thursday's 8.2 per cent fall.

Japanese electronics and media giant Sony called the report inaccurate but acknowledged it was looking at various possibilities for Vaio. Lenovo could not be reached for an immediate comment.

Last week, Lenovo announced the acquisition of Google's Motorola Mobility handset unit for US$2.91 billion (S$3.7 billion), striking its second overseas purchase in a week.