AOL is reportedly in talks to sell its ICQ instant-messaging service to a Russian Internet investment group.
Digital Sky Technologies (DST) is in negotiations to acquire ICQ for between $200 million and $250 million, according to Russian newspaper Vedomosti. ICQ, which AOL purchased in 1998 for $400 million, has about 8.4 million unique monthly visitors in Russia and is the No. 1 instant-messaging service in that country, according to market researcher ComScore.
AOL, which was recently spun off from Time Warner, was rumored last month to have hired investment bankers Morgan Stanley and Allen & Co. to find a buyer for the instant-messaging service.
DST, one of the leading Internet groups in Russia, made a $200 million investment in Facebook in May.
AOL representatives did not immediately respond to requests for comment.
Facebook announced on Tuesday a $200 million investment from Digital Sky Technologies (DST), whose social networks are market leaders in Europe.
Presuming Facebook is valued at $10 billion, DST's $200 million comes out to about a 1.96 percent stake, the companies said in a statement. DST would not have a seat on the board or hold special observer rights, the companies said.
DST also plans to offer to purchase at least $100 million of Facebook common stock from existing stockholders whose shares have vested. The details of the plan will be announced during the summer.
"This investment demonstrates Facebook's ongoing success at creating a global network for people to share and connect," Facebook Chief Executive Mark Zuckerberg said in the statement. "A number of firms approached us, but DST stood out because of the global perspective they bring--backed up by the impressive growth and financial achievements of their Internet investments."
More than 200 million people, of which about 70 percent are outside the U.S., use the popular social-networking service, according to Facebook.
DST, based in London and Moscow, has investments in Mail.ru, Forticom, and vKontakte.
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