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Russian Group Grabs Stake In Facebook

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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