The chief executive of software giant Microsoft has defended the company's purchase of a stake in social network site Facebook, stating that the deal was not a "mistake".

Steve Ballmer told Reuters that the 1.6 per cent of Facebook which Microsoft bought last month was the correct move for the firm, despite analysts claiming the $240 million (£115 million) price tag was too high.

The deal valued Facebook - which was set up by Harvard University student Mark Zuckerberg - at $15 billion, just over three years after it was launched. Mr Ballmer claimed that it was too early to say what the value of Facebook is.

He told the news agency: "The valuation of Facebook is still to be determined. Certainly today, it's very, very popular. So for a company like ours that wants to be a pre-eminent presence in this space, it's very important for us."

The number of people using Facebook grew by 366 per cent between January and July this year, according to comScore.


Tuesday, 6th November 2007

Back to Broadband News

Provider	Package	Speed	Download Limit	Setup Cost	Monthly Cost	More Info
	BT Broadband - Option 1	Up To 8Mbps	10GB	FREE	£7.95	Go >>
	Orange Broadband - Home Max	Up To 8Mbps†	Unlimited *	FREE	£12.00	Go >>
	BT Broadband - Option 2	Up To 8Mbps	15GB	FREE	£13.99	Go >>
	AOL Broadband - Wireless + E&W	Up To 8Mbps	10GB	FREE	£4.99	Go >>
	Virgin Media Broadband - M - Cable	Up To 2Mbps	Unlimited *	£30.00	£4.50	Go >>

* Fair Usage Policy applies. Click on Go to find out more information and Fair Usage Policy conditions for relevant providers.

** All Costs excludes the cost of line rental.

† Speeds in excess of 2 meg are only available in certain areas. Top speeds vary significantly, particularly according to how far away you live from the exchange.
If your line won’t support our fastest broadband speed we’ll give you the best available. The speed you actually get can also vary depending on the quality of your line, the wiring in your house, the time of day and even the weather.