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Thursday 28 April 2011

Facebook investors to sell $1 bln in stock: report

April 27, 2011, 5:56 p.m. EDT
A group of Facebook investors is looking to sell $1 billion worth of shares on the secondary market, which, if successful, would value the company at more than $70 billion, Reuters reported late Wednesday on its website, citing several sources familiar with the situation. The move highlights growing concerns among investors that Facebook's market valuation cannot keep up with its growth, according to the news service. The investors had initially hoped to sell the shares at a level that valued the company at $90 billion but had to slash the price after buyers balked, Reuters said.
By Sue Chang
SAN FRANCISCO (MarketWatch)

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