PC giant Lenovo's shares rose by more than one percent today on the back of news of Google’s massive investment in the company.
According to a disclosure on the Hong Kong stock exchange, Google will own a 5.94 percent stake in Lenovo valued at 750 million U.S. dollars as part of its recent acquisition of Motorola's handset division. Lenovo agreed last week to buy Motorola Mobility for 2.91 billion U.S. dollars in a cash and stock deal. Analysts say the agreement between Google and Lenovo ends the web giant's participation in the smartphone industry.