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FBN’s Charlie Gasparino on banks’ efforts to be the lead underwriter of Facebook’s IPO.
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-- -- is reporting that FaceBook may be.
Mad about the leak over its banking team and potentially.
Giving Morgan Stanley but not as lead banker but can Goldman Sachs get back into the game at this late hour Charlie desperate and now joins us on the phone with more explicit.
-- interest it would give -- -- they were clearly in no way that we we've got this Saturday night tweeted this over the weekend about the leak last week and there was some talk.
Around on the right circles that Morgan Stanley which -- you know -- not little.
I guess to lead underwriter we're leading by lead underwriter -- as the book runner.
It's the -- he writes it's on the left side of the perspectives.
That that that somehow might be that might weaken their position because of people pointing at them as a leak.
But we're hearing now that -- -- is Goldman Sachs which is the other possible.
Lead underwriter on this thing is looking to they have to get -- out with people close to go over it -- is that they don't think so they think.
I believe they have almost -- shot at that lead on the right right as of -- underwriting spot.
And then the reason is quite frankly that that would put these people are saying is that based book is worried about the -- all the controversy surrounding the firm I think.
You know people were waiting for area until the -- of all the congressional investigations.
And what not with that impact their investment banking business.
And in this case it has we -- -- -- debacle -- -- -- itself but -- papers where -- kind of botched.
The private placement of FaceBook shares earlier this year because -- you should record that they were initially -- -- private placement of the US.
That -- -- as well.
And what that story can that I believe we were the first placed a reported.
That regulators were concerned about type of deal they were doing whether it might violate securities laws Goldman had to pull back.
But that only issue those private shares overseas.
So that combined with the controversy of the surrounding Goldman -- gold within a couple -- position in the start.
And we should point out that it daylight people inside gold -- a good bill I'm getting is sources close to refer.
They are they are praying for -- co manager role on the deal being on the right side of the deal.
With whoever they're gonna put less side it looks like its board of -- so that's what we are right now.
It's pretty interesting piece of business lots of these involved here probably -- -- -- -- look at for a valuation of a hundred billion dollars.
I think it's a ten billion dollar deal.
In terms.
-- -- stock beginning issue means a lot of peaceful Wall Street I think they'll be chop it up about.
I don't know 20000 billion dollars worth of -- among all the birds of surely gonna get everybody.
A piece of it I don't know it -- batters that much over the break right to the other right and -- -- gold was on the right side -- -- state.
It should be pretty happy because it's gonna get a lot of the shares it's gonna get all -- shares as.
It is -- board stated the board there will be -- -- out the shares.
That's what it called that's what magic -- that's what we are right now.
Everybody's expecting this week to find out one way -- the other the other thing people look at for.
Is what exchange will FaceBook.
Based -- I can tell you.
That people think it's an uphill battle against four.
Output New York Stock Exchange to -- this -- -- because aspect is a place where most of those technology.
-- -- -- But still.
Both are they writing about what I could say that it looks like its -- up till four gold that is for the York stock exchange to at this -- -- that left side.
Although with people -- the firms say -- pretty confident.
That they get it they they can get the right side of the doubt that bright side co manager -- backed.
All right Charlie Gasparino on the phone thank you very much Charlie there.
