Friday, February 7, 2014

Google to own $750 million Lenovo stake after Motorola deal closes: HK exchange


The Google signage is seen at the company's offices in New York January 8, 2013. Photo: Reuters/Andrew Kelly

The Google signage is seen at the company's offices in New York January 8, 2013. Photo: Reuters/Andrew Kelly 
By Reuters


Internet search giant Google will own a 5.94 per cent stake in China's Lenovo Group Ltd worth $750 million once Lenovo's deal to buy Google's Motorola handset division closes, according to a disclosure on the Hong Kong stock exchange.


Google would take 618.3 million Lenovo shares at $1.213 per share, the stock exchange said late on Thursday.

Lenovo agreed to buy Google's Motorola handset division last week for $2.91 billion in a cash and stock deal.
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