Google's Eric Schmidt expects US approval for Lenovo-Motorola deal

Google Inc Executive Chairman Eric Schmidt expressed confidence on Monday that Lenovo Inc would gain approval from US regulators to buy Google's Motorola smartphone hardware business in what would be China's biggest technology acquisition to date. Schmidt said he saw "a good chance" of the deal passing muster with the Committee on Foreign Investment in the United States, which monitors acquisitions by overseas corporations. Speaking at a dinner organized by the Cato Institute think tank, Schmidt said Lenovo's previous experience buying IBM's ailing personal computer division in 2005 would stand it in good stead as it seeks the green light to acquire Motorola for about $2.91 billion. Reuters