Facebook in buyout talks for Twitter
Failed negotiations see $500 million offer refused
25 November 2008 9:05 GMT / By Amy-Mae Elliott
Facebook has been busy in buyout talks with Twitter, it's being reported.
The Financial Times suggests that the social networking company is trying to buy Twitter, the micro-blogging service, for as much as $500 million.
"Sources" and "people familiar with the situation" are reporting that Facebook is trying to buy the Web 2.0 start-up with stock but the talks have stalled over price.
Neither Facebook nor Twitter have confirmed the rumours, although Biz Stone, Twitter's co-founder, is quoted as saying the company wants to remain independent to build on its messaging service.
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