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The Wall Street Journal reports that Microsoft's bankers have put out feelers to the social networking site to see if it would be interested in selling up. Facebook's owners have so far resisted all overtures, including, somewhat ironically, a $2 billion offer from Yahoo early last year.

Last October Microsoft took a 1.6% stake in Facebook, giving it exclusive access to the site's advertising business. Microsoft's $240 million investment valued it at $15 billion.

Microsoft chief executive Steve Ballmer withdrew the $47.5 billion offer for Yahoo at the weekend, suggesting that had the company's management would attempt to "make Yahoo undesirable as an acquisition for Microsoft" were he to go over the board's head and appeal directly to the internet company's shareholders.

Yahoo executives maintain that the bid undervalues the company.