A deal between Facebook and either Google Inc or Microsoft Corp is expected to be announced in the next 24 to 48 hours, The New York Post reported on its Web site on Wednesday, citing unnamed sources.

Microsoft and Google are each vying for a 5 percent to 10 percent stake in the social-networking site which could cost between $750 million and $1.5 billion, the Post reported.

If Google is victorious it is likely to try to unwind Microsoft's advertising deal with Facebook, according to the Post, but if Microsoft wins it will likely look to expand that agreement.

Representatives from Facebook, Google and Microsoft were not immediately available for comment.

Facebook founder and Chief Executive Mark Zuckerberg has repeatedly said his company wants to remain independent and is seen as preparing to eventually float shares on the stock market.