“Billionaire Alisher Usmanov, who made more than $1 billion investing in Facebook Inc. (FB), is now avoiding the U.S. and focusing on China, where the company holds stakes in online-commerce companies.
The valuations of U.S. technology companies are too high to justify making new investments, Ivan Streshinskiy, chief executive officer of the company that manages Usmanov’s assets, USM Advisors LLC, said in an interview at Bloomberg’s headquarters in New York.”
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