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Li Ka-shing ups Facebook stake to $120 million

- Social networking site Facebook has closed a second $60 million investment round with Hong Kong billionaire Li Ka-shing through his foundation, a source familiar with the deal confirmed on Thursday.The source said the deal, which boosts Li’s holdings in Facebook to $120 million, including an earlier $60 million round late last year, is valued on the same $15 billion terms as a $240 million stake Microsoft took in October.

Li’s investment was made by the Li Ka Shing Foundation. Li-backed companies such as Hutchison Whampoa Ltd and TOM Group were not involved, the source said.

The stake boosts Li’s holdings to a 0.8 percent share of Facebook while Microsoft’s holds another 1.6 percent.

A Facebook spokesman declined to comment on Li’s stake.

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http://www.reuters.com/article/technologyNews/idUSN2731908420080328