Advertise on Bizcommunity

Subscribe to industry newsletters

Google buys 5.94% stake in Lenovo

HONG KONG: Google bought a 5.94% stake in Lenovo for US$750m having sold Motorola to the Chinese technology company.
Google has bought a US$750m stake in Lenovo following the sale of its Motorola unit to the Hong Kong company. Image: Lenovo.
The US Internet firm bought 618.3m shares in the Lenovo at US$1.213 each after Lenovo bought Motorola for US$2.91bn last week, 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 US$2.3bn, giving it a platform to compete in that sector with US giants Dell and Hewlett-Packard.

However, Lenovo's Hong Kong-listed shares lost almost a quarter of their value after the Motorola news, with traders worried the technology company had bitten off more than it could chew by buying the unprofitable handset producer.

Source: AFP via I-Net Bridge
Get a daily news update via WhatsApp or sign up to our newsletters.


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
Comment

Related

News