China plans to buy $1.2 billion Facebook stocks2011-07-06 13:10 by DanielaTags: Facebook
A state-owned fund in China is reportedly interested in buying a stake in social network Facebook, said a media report. According to the website Business Insider, China wants an investment in Facebook 'large enough to matter'. Facebook recently sold 225,000 shares, worth about $US6.6 million ($6.2 million), to the GSV Capital Corporation investment fund and added Reed Hastings, Netflix's chairman and chief executive, to its board of directors. Three months ago, there was a rumor that Facebook was entering China with help from Baidu which was quickly countered with another one saying that Facebook had not signed a deal in China. Read more -here-
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