Reuters: Technology News: Russia's Mail.Ru sells all its Facebook stock

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Creating iOS Games: Beginner Course Marin Todorov teaches you how to create an iPhone game easily and simply using Cocos2d in this $99 online course. From our sponsors

Russia's Mail.Ru sells all its Facebook stock Sep 5th 2013, 07:56 MOSCOW | Thu Sep 5, 2013 3:56am EDT MOSCOW (Reuters) - 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 $525 million, it said on Thursday. Mail.ru originally bought into Facebook in 2009, investing $200 million for a small stake that valued Facebook at $10 billion. At the time of Facebook's IPO last year, it had a stake worth around $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. Mail.Ru also reported a 28 percent rise in first-half net profit to 5.1 billion roubles ($151.8 million) and edged up its revenue growth forecast for 2013 on the back of fast growth in advertising and games. The company said it expected its revenue to rise by 27-29 percent in 2013, up from previous guidance of 25-28 percent but still below last year's growth in sales of 39 percent.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions