Russian Social Network VKontakte Said to Weigh IPO in U.S.

VKontakte, the largest Russian social networking website, is in early discussions with investment banks about a potential initial public offering, people with knowledge of the talks said.

The company has discussed selling shares in New York as early as next year, the people said, declining to be identified as the matter is private. No final decision has been made on whether to press ahead with an offering or on a valuation, the people said.