The internet giant Yahoo! is rumoured to be mulling over the purchase of the social networking site Bebo, the Daily Telegraph has claimed.
It is thought that Yahoo! could pay up to $1 billion for Bebo, which is about a quarter of the size of the world's most popular social networking site, MySpace. Last year, rumours were rife that Bebo turned down bids from both British Telecom and Viacom.
The founder of Bebo, Michael Birch, has stated in the past that he would rather float the company than sell it outright. This year has seen a rash of internet takeovers which has caused the stock of fast-growing internet companies to skyrocket. The latest takeover was by Microsoft, who last week paid $6 billion to take over the digital marketing company Aquantive.
Google, Microsoft and Yahoo! are the main players in the race to acquire these lucrative companies. In April Google won a major coup by acquiring the internet advertiser DoubleClick for $3.1 billion in cash.
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