Facebook’s initial public offering will carry many superlatives – the most-anticipated I.P.O. of the social-networking era, likely the biggest public debut of 2012, the I.P.O. most likely to lure headline writers into using really bad puns.
But for the banks that are expected to underwrite Facebook’s I.P.O. process, there is one more notable fact: Facebook is likely to be the first deal in which the firms leading an offering have prohibited employees from using a client’s flagship product at work. (Or at least the first not covered by the Bureau of Alcohol, Tobacco, Firearms and Explosives.)
Morgan Stanley, JPMorgan Chase and Goldman Sachs, the three banks that are expected to lead Facebook’s I.P.O., all block Facebook access for employees on their headquarters networks, according to people familiar with the banks’ policies.
The firms have also blocked access to other sites, like YouTube, Gmail and Twitter, according to these people. All three banks declined to comment.
Read the rest here.
If you enjoy the content at iBankCoin, please follow us on Twitter
