Microsoft Corp. (MSFT) will probably hang on to its stock in social-network operator Facebook Inc. (FB) after a ban on share sales expires next week, a person with knowledge of the company’s plans said.
Microsoft, the largest software maker, views the stake as a strategic investment reflecting the pair’s aim to combat Google Inc. (GOOG), rather than as a near-term moneymaker, said the person, who requested anonymity because the plans are private. Microsoft held 26.2 million Facebook shares, or 1.7 percent, after the initial public offering, regulatory filings show. The stake is worth $571.9 million.
Source: Bloomberg
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