A JPMorgan fund is in talks to acquire a substantial stake in Twitter, one of the fastest-growing social networking sites.
The fund hopes to acquire 10 per cent of the online messaging service for $450m, valuing Twitter at $4.5bn, according to people familiar with the plans.
It is not clear if the JPMorgan fund will make a direct investment or buy out existing investors and shareholders with Twitter’s approval. But the fund does not intend to buy shares on the secondary market, the people said. The deal has not closed.
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