Google to own $750m stake in Lenovo after Motorola deal

Internet search company Google will own a 5.94 per cent stake in China's Lenovo Group 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 yesterday.

Lenovo said last week it would acquire the Motorola handset business, along with some 2,000 patents, for $2.91 billion. That came days after an announcement the company would purchase IBM’s low-end server unit for $2.3 billion.

The deal will be reviewed by the Committee on Foreign Investment in the United States, or CFIUS, which monitors acquisitions by overseas corporations, to ensure it does not threaten US national security. But Google executive chairman Eric Schmidt expressed confidence on Monday that the deal would gain approval from US regulators