In the deal for Motorola, Lenovo paid Google about $2.9 billion. Though a lot lower than the price Google originally paid for Motorola as a whole, it was a fair price for Motorola Mobility, which is what Lenovo got. Save for patents and skunkworks, which Google kept, recent reports suggest Google nevertheless made an investment in Lenovo shortly after the deal.

A Hong Kong regulatory filing notes that there is a set number of shares Google could own as part of the transaction. In examining the deal, the number of shares relates to a closing price the day of the announcement, in which Google said they’d get $750 million in Lenovo shares in addition to cash and future payments. The shares — about 618 million — would equate to the $750 million at the closing price of roughly $1.21.

The original Reuters report raised eyebrows, as it seemed Google was being, well, “evil”. Double-dipping, if you will; selling Motorola to Lenovo, then turning around and buying a hefty chunk of the company. If the original report were true, Google would have about a 6% ownership in Lenovo on the back of jettisoning Motorola to them. That’s a slick audible, but you know — it never happened.

As it sits, Google will end up with those shares once the deal goes through, but it was part of the sale/purchase to begin with. From there, Google is likely to be just like any other shareholder, and get rid of the stock should it reach a certain price. It may also end up a quick turnaround sale, or Google could just sit on them.