Banks face off for Facebook float

Goldman Sachs and Morgan Stanley are considered front-runners for top job in handling 2012's trophy IPO

Friday 30 December 2011 at 13:48

This year has been lacklustre for Wall Street bankers. But next year, there's Facebook Inc.

Up for grabs is the lead investment-banking role in the social-networking site's initial public offering, and long-time rivals Goldman Sachs and Morgan Stanley are considered front-runners, bankers and venture capitalists say.