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No need to go back to debt markets for Google deal: Lenovo CFO

Last Updated: Thursday, January 30, 2014 - 09:57

Beijing: Lenovo Group Ltd has no urgent need to go back to the debt markets to raise cash for its acquisition of Google Inc`s Motorola handset division, the Chinese company`s chief financial officer said on Thursday.

Wong Waiming also told a media briefing that the company had USD 3 billion cash on hand last year and the total capital outlay for the Motorola deal and Lenovo`s acquisition of IBM`s low-end server business, announced last week, was about USD 2.8 billion.

The Motorola acquisition is China`s largest-ever tech deal as Lenovo buys its way into a heavily competitive U.S. handset market dominated by Apple Inc .

First Published: Thursday, January 30, 2014 - 09:57
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