Chinese computer maker Lenovo, which has signed a non-disclosure deal to examine BlackBerry’s books, faces regulatory obstacles if it bids for all of the company and will likely pursue just parts, a source familiar with the matter said on Thursday.

BlackBerry Ltd said in August it was exploring options that could include an outright sale. And the Canadian company, which helped pioneer smartphones, has since been linked with potential buyers, including rival technology firms.

Sources close to the matter said BlackBerry is in talks with Cisco Systems Inc and Google Inc among others, about selling all, or parts of itself. The potential buyers have all declined to comment.

None of these companies have made a formal bid for BlackBerry yet. But industry experts believe that, while these players might not be interested in all of BlackBerry, they are keen on at least some pieces that would mesh well with or expand their own businesses.

Sources said they expect some of these strategic players to be paired in bids for BlackBerry, depending on their level of interest its hardware and network assets. Most security experts believe BlackBerry’s most vital asset, a secure network that handles millions of confidential corporate and government emails every day, is likely to be sold to a North American entity due to security concerns. Its less contentious handset business could be shopped to an Asian device maker.