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Business Briefing / Internet

Offer made for Facebook shares

July 14, 2009|Times Wire Reports

A Russian investment firm appears to put the value of Facebook Inc. between $6.5 billion and $10 billion.

Digital Sky Technologies said it would buy up to $100 million worth of Facebook shares. At the price it would pay, $14.77 a share, the Internet networking company would be worth about $6.5 billion.

In May, Digital Sky bought $200 million worth of preferred shares in Facebook. That valued the Palo Alto company at roughly $10 billion, but those shares are worth more because they come with more rights.

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