Biz Scene: GRAPEVINE

Potential buyout

Facebook Inc was reported to have offered $85 million to buy Chinese social-networking website Zhanzuo.com. The report appeared on the London-based Times online edition yesterday and cited unidentified sources.

Zhanzuo.com Chief Executive Officer Jack Zhang is "acquainted" with Facebook founder Mark Zuckerberg, the newspaper said, citing an unidentified person from the Chinese website. More information could be available by the end of the month, the source said.

Stake purchase

China Investment Corp would buy $100 million of China Railway Group Ltd's Hong Kong shares in its second investment in an initial public offering (IPO), the Hong Kong Economic Journal reported, citing unidentified sources.

China Railway, the world's third-biggest construction company, has attracted HK$3.18 billion in investment from nine cornerstone investors for 20 percent of the shares offered in the Hong Kong IPO, the Economic Journal said.

(China Daily 11/20/2007 page15)