Google buys 6% Stake in Lenovo for $750M

Internet search company Google Inc bought a 5.94 percent stake in China’s Lenovo Group Ltd last month for $750 million, according to a disclosure on the Hong Kong stock exchange. It’s related to the deal for Lenovo to acquire Motorola Mobility that was announced on January 30, and is part of the payment agreement for the phone-maker between the two tech giants. January 30 was also the date when Google took the Lenovo stake, but it has only been unearthed this morning.

Reuters reports that a filing on the Hong Kong stock exchange shows that Google now has a 5.94 percent stake in China’s Lenovo Group.

Lenovo intends to use its Motorola ownership to push its smartphones in the US and other developed markets. But it’s not clear what Google has in mind for its Lenovo stake. Aside from Android smartphones and tablets, Lenovo is the world’s top Windows PC maker.

Nearly all of those sales were in like China, but the Motorola acquisition will give Lenovo a foothold into North and Central America where Motorola's Moto X and Moto G have done well.