Billionaire raises Facebook stake
From Reuters
Social networking site Facebook has closed a second $60-million investment round with Hong Kong billionaire Li Ka-shing through his foundation, a source familiar with the deal confirmed Thursday.
The source said the deal valued Facebook at $15 billion, as did a $240-million stake Microsoft Corp. took in October.
The deal boosts Li’s holdings in Facebook to $120 million, including an earlier $60-million round late last year.
Li’s investment was made by the Li Ka Shing Foundation. Li-backed companies such as Hutchison Whampoa Ltd. and Tom Group were not involved, the source said.
With the deal, Li’s share of Facebook increases to 0.8%. Microsoft holds 1.6%.
A Facebook spokesman declined to comment on Li’s stake.
