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China Bidding on Park Place, Boardwalk, Facebook

June 30th, 2011 - 12:03 pm

Some interesting goings-on in the world of high-tech finance:

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.”

Seperately, 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.

China and the Arabs want Facebook? My first instinct is, let ‘em have it.

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