Russia's Mail.Ru unloads all its stock in social networking site Facebook
ReutersMOSCOW -- Russian Internet group Mail.Ru, part owned by the country's richest man Alisher Usmanov, has sold the remainder of its shares in social network group Facebook Inc. for US$525 million, it said on Thursday.
September 6, 2013, 12:42 am TWN
Mail.ru originally bought into Facebook in 2009, investing US$200 million for a small stake that valued Facebook at US$10 billion. At the time of Facebook's IPO last year, it had a stake worth around US$700 million.
Mail.Ru sold some of its Facebook shares during the IPO. It said on Thursday it sold its remaining 14.2 million Facebook shares in the period of July-August 2013.