China in the Facebook business?

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

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