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

BEIJING Wed Jan 29, 2014 10:26pm EST

BEIJING Jan 30 (Reuters) - 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 $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 $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.

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