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Report: China Wants To Buy Into Facebook
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msg:4334785
 1:21 pm on Jul 4, 2011 (gmt 0)

Report: China Wants To Buy Into Facebook [businessinsider.com]

China wants to buy a huge chunk of Facebook, a source at a fund that buys stock from former Facebook employees tells us.

This source learned of China's interest when it approached him to see if he could help put together a stake large enough "to matter."

Separately, a second source tells us there is a rumor going around Facebook that Citibank is at this very moment trying to acquire as much as $1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds China's and another from the Middle East. Another source from an investment bank that is very influential in Silicon Valley says he's also heard a rumor about Citibank's interest on behalf of China.

 

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