SHANGHAI, Aug. 8 -- LENOVO Group Ltd yesterday announced its plan to buyout Packard Bell, the third-biggest personal computer maker in Europe, Sina.com reported today.

Lenovo, the world's third-biggest PC maker, said it is negotiating with an unidentified third party about the plan but hasn't reached any deal.

John Hui, who bought Packard Bell from NEC Corp last year, said in an e-mail interview with Bloomberg News today that Lenovo has exclusive negotiation rights to by a controlling stake in the company.

Packard Bell has a 10-percent market share in Europe, the Sina.com report said.

Lenovo's stock rose 2.4 percent to HK$5.03 at 10:05am in Hong Kong, after rising as much as 2.9 percent. By comparison, the benchmark Hang Seng Index fell 0.1 percent.