Li Ka-shing, the Hong-Kong magnate who owns Mobile Network 3 and Superdrug, has announced that he has purchased a GBP 29m stake in Facebook.
That represents only 0.4 percent of Facebook. Microsoft had earlier purchased 1.6 percent of the Social Networking site whose valuation still stands at USD 15 bn.
The man behind Hutchison Whampoa apparently plans to use Facebook's platform as a springboard for the exploding Chinese ad market.
Li Ka Shing who is Asia's richest man with a personal fortune of USD 23 bn is the third high profile non-venture capital investor to invest in Facebook.
Paypal’s founder and Microsoft also have minor stakes in Facebook.