China Wants to Buy Facebook
Jul. 3 2011 - 5:58 pm
On Thursday, Business Insider reported that China is trying to buy “a huge chunk” of Facebook.
According to the business news website, Beijing approached a fund that buys stock from former Facebook employees to see if it could assemble a stake large enough “to matter.” Moreover, Citibank is rumored to be trying to acquire as much as $1.2 billion of stock for two sovereign wealth funds, one from the Middle East and the other Chinese. Business Insider reports a third source, from a “very influential” Silicon Valley investment bank, confirms that Citi is representing China.
Should Beijing be allowed to buy a part of Mark Zuckerberg’s site?
Read the full article on Forbes.com