The Week: City news - Tycoon buys into Facebook

Facebook has sold a 0.4 per cent stake in the business for $60 million (£29 million) to Li Ka-shing, the Hong Kong billionaire behind the mobile network 3. The deal values the website at the same $15 billion as the 1.6 per cent stake Microsoft bought in October. Facebook is expected to use the association to help it break into the Chinese market.