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MSFT to buy CYCH!!! Now that a RUMOR!!!
NEW YORK, April 16 (Reuters) - CyberCash Inc denied rumors that it is involved in talks to be acquired by Microsoft Corp (Nasdaq:MSFT) or any other company.
In a prepared statement, CyberCash spokeswoman Jordanna Taffel said: "James Condon, chief executive officer, Bill Melton, president and chief executive officer and Russ Stevens, general counsel, firmly state there have been no discussions of an acquisition of CyberCash."
Rumors that CyberCash might receive an investment or takeover offer lifted the stock. Microsoft was mentioned specifically in one version as a potential investor.
Asked whether there had been any talks related to investments other than an acquisition, Taffel replied, "No. Nada. Zip."
Shares in CyberCash surged 6-1/16 to 26-7/8, with most of those gains coming in late trading after a report on financial television station CNBC mentioned the takeover rumors. Earlier, newsletter Wall Street Strategies also cited talk of a possible Microsoft investment in CyberCash.
A Microsoft spokesman was not immediately available to comment. Microsoft has a standing policy of declining comment on market rumors.
Quote for referenced ticker symbols: MSFT, CYCH
c 1998, Reuters
Gotta love it,
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