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Russian Group Grabs Stake In Facebook

Facebook founder Mark Elliot Zuckerberg

Facebook founder Mark Elliot Zuckerberg

"The New York Times" and other outlets are reporting that Russia's Digital Sky Technologies has picked up a nearly 2 percent stake in social-networking company Facebook.

The price represents about a 30-percent discount from Facebook shares less than 18 months ago, judging by the "Times" numbers.

And the "Times" says it wants more:

Digital Sky Technologies also plans to buy at least $100 million of Facebook stock from current and former employees, the companies said. [...]

Its portfolio companies include two large social networks, Forticom and vKontakte, and a Russian Web portal,

DST itself is less modest, claiming on its website:

[O]ur companies comprise well over 70% of all pageviews in the Russian speaking Internet, targeting a potential audience of over 300 million people. Our companies hold the #1 and often also the #2 and #3 positions in all CIS states, including Russia, Ukraine, Kazakhstan, Georgia and Armenia.

-- Andy Heil

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