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Lenovo shares dive 8.21% after Motorola deal

Lenovo shares slumped more than eight per cent after it agreed to buy Motorola from Google for US$2.91 billion.

HONG KONG: Shares in Chinese technology giant Lenovo slumped more than eight per cent in Hong Kong on Thursday after it agreed to buy struggling handset maker Motorola from Google for US$2.91 billion.

Lenovo dived 8.21 per cent to HK$10.06. The deal, which comes a week after Lenovo bought IBM's low-end server business for US$2.3 billion, spooked investors who are worried about Motorola's profitability.

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