Facebook snubs Silicon Roundabout for Covent Garden UK HQ -

Facebook is snubbing the so-called sillicon roundabout - home of start-ups around the Shoreditch area - to move into Covent Garden instead. 

It will put Facebook in tube-taking distance to the East London Tech City, proposed by the government to be a bustling hub of start-ups and established tech powerhouses. Facebook has committed to a developer garage for the project.

Meanwhile, Google is interested, and so is Intel - along with Barclaycard and plenty of others.

But anyone who has taken the tube from the crowded Covent Garden in the evening would probably know it's worth giving a miss.

Covent Garden's 42 Earlham Street  office building was packed full of 600 Expedia employees who will now set up shop in Angel, Islington. It's a fair bit closer to Old Street.

42 Earlham Street will become Facebook's UK headquarters.

One start-up based in the Google-backed TechHub told us: "They're obviously too rich."

Regarding the rumour, TechHub founder Elizabeth Varley said: "While we would love to see them next door, we can see why Covent Garden make sense for Facebook as the West End's a hub of advertising companies, which is a focus for them."

The alleged move follows whisperings that Twitter plans to settle its European headquarters in London.