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Google buys 5.94% stake in Lenovo for $750M • 2:34 AM

Google (GOOG) has acquired a 5.94% holding in Lenovo Group (LNVGY) for $750M, with the U.S. company buying 618.3M shares at $1.213 each on January 30.

The news, which was disclosed late yesterday in a filing to the Hong Kong Stock Exchange, comes after Lenovo last week agreed to purchase Google's Motorola handset division for $2.91B in cash and stock. As part of the transaction, Google is receiving $750M in Lenovo shares.