Malaysia’s MOL Global to buy Friendster? Did you believe that news?

KUALA LUMPUR, Malaysia, Dec. 9 /PRNewswire/ — MOL Global Pte. Ltd. (”MOL Global”), an affiliate of leading online payment solutions provider MOL AccessPortal Berhad (”MOL”), and Friendster, Inc. (”Friendster”), the operator of a top global web site based on traffic and a leading social network in Asia, announced today they have entered into a definitive agreement under which MOL Global will acquire 100% of Friendster. The principal shareholder of MOL is Tan Sri Vincent Tan, the Chairman and CEO of Berjaya Corporation Berhad, a leading, diversified Malaysian conglomerate that has annual revenues in excess of US$1.8 billion. Following the acquisition, the operations of MOL and Friendster will be combined to create Asia’s largest end-to-end content, distribution and commerce network, pairing MOL’s offline retail channel partners and payment platform with Friendster’s large online footprint, social network and user community in Asia. Read more here..

I wonder what will happen to Friendster after that. Did they will manage to compete with Facebook? As you know, facebook lead social website todays. Just hope friendster will do something better next year. Hoho..