Google mulls $2 billion acquisition in China or Russia

Google announced on Thursday a plan to raise funds by selling 14.2 million shares in the open market, accounting for 4.8% of all issued shares. The underwriters have the right to sell an additional 600,000 shares. Goldman Sachs analyst Anthony Noto said that the secondary offering indicates that Google may accelerate its expansion into areas beyond search, maps, and email, and could also pursue acquisitions worth up to $2 billion in China or Russia. Jason Scroberg, an analyst at Turner Investment Partners, said: "Their expansion plans involve more than just hiring and setting up offices."