China Investment Corporation rumored to seek large stake in Facebook

Alright internet business trend dorks, let the hyperventilating commence: "China's sovereign wealth fund is reportedly looking to buy a stake in Facebook. Business Insider, citing a source at a fund that buys stock from former Facebook employees, claimed yesterday that the Chinese buyer hopes to see if it could buy a stake large enough 'to matter' of Facebook, the most popular social networking website in the world with 700 million users. Citibank is trying to acquire as much as US$1.2 billion worth of Facebook stock on behalf of two sovereign wealth funds - China's and another from the Middle East. China Investment Corp, the nation's sovereign fund, was not available for comments. Mark Zuckberg will probably visit Shanghai in September, which will be his second trip to China. In 2010, the 27-year-old Facebook CEO met with leaders of the top Internet companies in China, including Baidu, Sina, Alibaba and Tencent." [Shanghai Daily]