Caixin OnlineBusiness & IndustryTop Stories Industry CIC Says it Has No Plans to Invest in Facebook
07.06.2011 15:33

CIC Says it Has No Plans to Invest in Facebook

China's sovereign wealth fund China Investment Corp. denied reports that it would take a sizable stake in the popular social networking website Facebook
By staff reporter Zheng Fei

(Beijing) – China's sovereign wealth fund China Investment Corp. (CIC) is not mulling an investment stake in Facebook, a person close to CIC told Caixin.

The source added that CIC sees Facebook as currently overvalued.

U.S. website Businessinsider reported on July 1 that CIC planned to take a stake into the world's most popular social networking website with 700 million users.

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