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Global Economics

Hong Kong Tycoon May Boost Facebook Stake

Li Ka-shing, the telecom mogul who invested $60 million in the social networking site last year, has upped his stake to $100 million and may invest even more

Facebook was valued at an eyebrow-raising US$15 billion when Microsoft purchased a 5 percent stake at US$240 million.

According to MarketWatch, Li made the initial announcement during the earnings call for his company, Hutchison Whampoa. "Facebook is doing very well and we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones," Li reportedly said.

Among Li's other investments is peer-to-peer video start-up Joost.

Provided by ZDNet Asia—Where Technology Means Business

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