Poly Group raises Yota stake

State-owned China Poly Group acquired an additional 10 percent stake in Russian handset-maker Yota Devices in a deal worth $15.50 million, new site cankaoxiaoxi.com reported over the weekend.

Of the total, $15 million will be paid via 2.4 percent of Poly's shares, and the remaining $500,000 will be paid in cash, according to the report. The deal will take Poly's stake in Yota to 40 percent.