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Facebook shares fall

SHARES in Facebook have tumbled after founder Mark Zuckerberg revealed he is to sell a massive €1.68bn of his shares.

Mr Zuckerberg (inset), also the chief executive of the social networking site, said he is selling the shares to pay off a tax bill.

Investors were not rushing to hit the "like" button on the news, which will reduce Mr Zuckerberg's control of the company from 58.8pc to 56.1pc.

Shares in the company were down 4pc yesterday morning.

The news comes just days after it was announced Facebook will join the Standard & Poor 500 index.