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Facebook buys WhatsApp message service for $16billion

The deal includes $4 billion in cash and $12 billion in stock.

Image: Dave Thompson/PA Wire/Press Association Images

FACEBOOK HAS  BOUGHT WhatsApp for $16 billion.

Reports this evening say that Facebook is to pay $4 billion in cash and about $12 billion stock, says Reuters.

The aquisition of the fast-growing messaging service WhatsApp will expand the global footprint of the social networking giant.

A Facebook statement said:

The acquisition supports Facebook and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core Internet services efficiently and affordably

Meanwhile, TechCrunch says that according to a regulatory filing, a termination fee would cost Facebook $1b in cash and $1b in shares.

- Additional reporting AFP. - © AFP, 2014

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