Google Bought 5.94% Stake in Lenovo on Jan. 30 -Filing

By Dow Jones Business News, 
A A A
Share |


HONG KONG--Google Inc. (GOOG) will own a 5.94% stake in Lenovo Group Ltd. (0992.HK) once it completes its sale of the Motorola Mobility handset business to the Chinese personal-computer maker, a Google spokesman said Friday.

Last week, Google announced that it would sell its Motorola handset unit to Lenovo for $2.91 billion. The terms of the deal said that Lenovo's payments will be made in cash as well as shares to be issued to Google. As a result of the deal, Google will own about 618.3 million shares in Lenovo, or a 5.94% stake.

Write to Juro Osawa at Juro.Osawa@wsj.com

Corrections and Amplifications

This item was corrected at 07:19 GMT. The original misstated the currency of the purchase as Hong Kong dollars in the second paragraph. Google bought Lenovo shares at US$1.213 each.

Corrections Amplifications

This article was corrected at 04 45 ET to fix the misstatement that Google bought Lenovo shares in the headline and throughout the article. It is obtaining the shares as part of the terms of its sale of Motorola Mobility to Lenovo. The mistake was also contained in a headline at 0352 GMT and a subsequent correction at 0639 GMT.

"Google Bought 5.94% Stake in Lenovo on Jan. 30 -Filing," at 0555 GMT, misstated the currency of the purchase as Hong Kong dollars in the second paragraph. Google bought Lenovo shares at US$1.213 each.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  02-06-142351ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: GOOGL

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM