Hutchison's Li: To Continue To Hold Shares In Facebook

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HONG KONG -(Dow Jones)- Li Ka-shing, Asia's richest man and chairman of
Hutchison Whampoa Ltd. (0013.HK) said Tuesday he will continue to hold shares in
U.S. social networking firm Facebook through his charitable fund.


"I believe Facebook is a very successful business," Li told reporters at a
press conference to announce the firm's 2010 results. "I will continue to hold
shares."


Li, however, didn't disclose the amount of shares he owns in Facebook.
Hutchison and its parent, Cheung Kong (Holdings) Ltd., have earlier declined to
comment on the chairman's stake.


Investor clamor around Web companies such as Facebook and Zynga Inc. continues
to heat up. According to people familiar with the matter, institutional
investors have been competing to get into Facebook by purchasing shares in the
firm from Facebook employees. In January, Facebook was valued at $50 billion in
a deal that raised $1.5 billion from investors such as Goldman Sachs Group Inc.
(GS) and Digital Sky Technologies, as well as some of Goldman's non-US clients.



-By Fiona Law, Dow Jones Newswires; 852-2802-7002; fiona.law@dowjones.com



(END) Dow Jones Newswires
03-29-11 0725ET
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