By David Snyder.
Li Ka-shing, Hong Kong billionaire and CEO of telecommunications conglomerate Hutchison Whampoa, has increased his investment in Facebook in excess of $100 million.
Li announced the investment in Facebook during Hutchison’s earnings call on Thursday.
Li shared his opinions on Facebook on during an earnings press conference for Hutchinson:
“Facebook is doing very well, and we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones.”
Li invested $60 million in Facebook last December giving him a 0.4% stake in the $15 billion company. Li’s initial investment in Facebook came less than two months after Microsoft threw $240 million into the company. The exact amount of Li’s second investment not known, he did however leave the door open for further investments in the social network.