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Google bought a 5.94% stake in Lenovo for $750 million on the same day it agreed to sell handset maker Motorola to the Chinese technology giant, a report said Friday.
The U.S. Internet firm acquired 618.3 million shares in the PC maker at $1.213 each when Lenovo bought Motorola for $2.91 billion last Thursday, according to Dow Jones Newswires.
The deal provides Lenovo with footholds in smartphone and tablet markets where it is eager to gain traction.
It also came just a week after the Chinese firm said it will buy IBM's low-end server business for $2.3 billion, giving it a platform to compete in that sector with U.S. giants Dell and Hewlett-Packard.
However, Lenovo's Hong Kong-listed shares lost almost a quarter of their value in two days after the Motorola news, with traders worried the technology giant had bitten off more than it could chew by buying the unprofitable handset maker.
© (c) 2014 AFP
2 Comments
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Mitsuo Matsuyama
Good times when YouTube was not part of Google. Now the things that were convenient is not more convenient. The answer boton, the personal message area, the comunication that we had by chanel to another chanel and so on don't have anymore.
Now, about Lenovo. I dont know about you guys, but I feel that this maker is very weak.
Open Minded
Mitsuo Matsuyama
I do not know what you mean by weak! Lenovo is the worldwide #1 in PC market share!