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Google buys 5.94% stake in Lenovo
TT Correspondent |  |  07 Feb 2014

Internet giant Google has acquired bought a near 6% stake in Chinese major smartphone, tablet and PC maker Lenovo for $750m (£459m), according to a disclosure on the Hong Kong stock exchange.

Google acquired 618.3 million Lenovo shares at $1.213 per share on January 30, the stock exchange said late on Thursday.

Last month Lenovo and Google entered into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility Smartphone business.

The purchase price is approximately US$2.91 billion (subject to certain adjustments), including US$1.41 billion paid at close, comprised of US$660 million in cash and US$750 million in Lenovo ordinary shares (subject to a share cap/floor). The remaining US$1.5 billion will be paid in the form of a three-year promissory note.

    
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07 Feb 2014(IST)  
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