Lenovo shares dive 8.21% after Motorola deal

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

Shares in Chinese technology giant Lenovo slumped more than 8% in Hong Kong on Thursday after it agreed to buy struggling handset maker Motorola from Google for $2.91 billion.

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