Microsoft rules out acquisition speculation

Software giant only wanted Yahoo for its advertising platform

Ballmer: People don't know what they're talking about

Microsoft's chief executive said the company will not seek to make any other internet acquisitions in the wake of its failed bid for Yahoo, according to an interview in the Financial Times.

Speculation that Microsoft could try to buy Facebook, the AOL division of Time Warner misunderstood the firm's intentions, according to chief executive Steve Balmer.

"People don't understand what they're talking about," chief executive Steve Balmer told the FT.

"This is about the advertising platform. This is not about just any one of the applications," he said.

Microsoft abandoned a $47.5bn (£24.1bn) offer to buy Yahoo last month, but had more recently discussed a deal to take a 16 per cent in Yahoo and buy its search business to try and gain a stronger foothold in online advertising.