China Wants To Buy A Big Chunk of Facebook

Monday 04th, July 2011 / 20:08 Published by

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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