Tuesday July 05, 2011

China Wants to Buy Facebook

China is interested in buying a billion dollar chunk of Facebook? What good could come of allowing China to purchase any portion 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.

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