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NEW YORK (AP) — Standard & Poor’s is saying investors should
sell Google’s stock because it believes the search leader’s
decision to buy Motorola Mobility increases the risk to the company
and its shares.
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Google Inc. said Monday it will pay $12.5 billion for Motorola
Mobility, a major maker of phones using Google’s Android mobile
software. The deal includes mobile patents that could help Google
defend itself against rivals.
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S&P said Tuesday that while the acquisition would include a
patent trove, that might not be enough to keep Google’s Android
mobile operating software from encountering intellectual-property
issues. It downgraded its rating on Google’s shares to “Sell” from
“Buy.”
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Further, the ratings service says the transaction will hurt
Google’s growth, margins and balance sheet.
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S&P cut its price target for Google’s stock by $200 to
$500.
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Google shares fell along with the overall market Tuesday, slipping
$18.23, or 3.3 percent, to finish trading at $539.
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