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Saturday, July 2, 2011

TECH WORLD: China state fund eyes Facebook stake!

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A state-owned fund in China is reportedly interested in buying a stake in social network Facebook, said a media report.
A source told US business magazine Business Insider that China's sovereign wealth fund - the China Investment Corp - is hoping it could buy a stake in Facebook, large enough "to matter", the Shanghai Daily reported.
Financial firm Citibank is reportedly trying to acquire as much as $1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds - one from China and another from the Middle East, the daily said.


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