Lenovo takes over BlackBerry

Chinese computer and phone manufacturer Lenovo is considering a complete takeover of Canadian smartphone maker BlackBerry, Wall Street Journal has reported.

Citing unnamed sources familiar with this issue, this U.S. daily reports that Lenovo has signed a secret agreement to gain access to BlackBerry's bank accounts. If this purchase takes place, it will be one of the largest and most significant Chinese acquisitions of a western company.

Last month, BlackBerry reached a preliminary USD4.7 billion buyout deal with Fairfax Financial Holdings Ltd., a Canadian insurance firm that is one of the company's largest shareholders.