Soros reveals stake in Facebook

Hedge fund legend George Soros acquired 341,000 shares in Facebook over the last quarter, building his stake at a time when the social network’s stock was battered by valuation concerns, according to a regulatory filing last night. Meanwhile, he exited holdings in JP Morgan, Citigroup and Goldman Sachs. Facebook has also been given a boost by the UK Office of Fair Trading, which gave the green light to its purchase of photo sharing firm Instagram yesterday.