Originally published: January 18, 2010
Last updated: January 18, 2010 - 3:52pm
Some Google investors admire the company for standing up to the Chinese government and protecting its users from cyber attacks and censorship. They also say it's going to cost them.
"It's kind of nice to see them take a stand, but it is a big business opportunity that they would be losing," said Ken Smith, a portfolio manager at Munder Capital Management in Birmingham, Michigan. The firm oversees $15 billion in assets and owned 24,268 Google shares in its Internet fund at the end of November. "They will have to work hard to replace that." Investors say they want Google to protect its customers' private information from possible misuse and take a stand against censorship. The cost, they say, is giving up Google's chance to win a stake in a market that already has more Internet users than the total U.S. population and is on course to double in the next three years.
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