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CIC Says it Has No Plans to Invest in Facebook
07.06.2011 15:33
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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
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(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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