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Facebook's Zuckerberg to sell 41.35 million 'B' shares

By Shin Ji-hye

Published : Dec. 19, 2013 - 21:29

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Facebook founder Mark Zuckerberg will sell 41.35 million 'B' shares in the company for tax purposes, US stock market regulators said on Thursday.

These shares will allow Zuckerberg to retain power over Facebook because each has 10 voting rights. Proceeds from the sale will allow the young billionaire to pax taxes due on the exercise of an option enabling him to obtain 60 million additional 'B' Facebook shares.

(AFP)