Google needs up to $30B of overseas funds for acquisitions

|By:, SA News Editor

Google (GOOG, GOOGL) needs $20-30B of its foreign earnings to finance acquisitions, which is why it had parked $35B abroad as at the end of March.

The search giant also plans to use $2-4B for capex and $12-14B for an R&D cost-sharing agreement.

Google made the disclosures in a December letter to regulators that it published yesterday. The letter comes amid controversy about how U.S. corporations keep large funds overseas in order to avoid U.S. taxes.

In addition, Google revealed that it passed on a $4-5B acquisition deal for a foreign company in late 2013, although it didn't provide the name of the target.