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Report says China seeks big stake in Facebook
By Bian Ji |
July 1, 2011, Friday
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Online Edition
Online Edition
China is seeking to buy a large stake in Facebook, Business Insider reported yesterday, citing a source at a fund that buys stock from former Facebook employees.
The source said that he was approached by the Chinese side, who hopes to see if he could help put together a stake large enough "to matter," the website reported.
Business Insider quoted a second source as saying that there is a rumor going around Facebook that Citibank is trying to acquire as much as US$1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds – China's and another from the Middle East.
Representatives from Facebook and Citibank declined to comment, according to the website.
The source said that he was approached by the Chinese side, who hopes to see if he could help put together a stake large enough "to matter," the website reported.
Business Insider quoted a second source as saying that there is a rumor going around Facebook that Citibank is trying to acquire as much as US$1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds – China's and another from the Middle East.
Representatives from Facebook and Citibank declined to comment, according to the website.
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