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Gold/Mining/Energy : BCE Emergis - global e-commerce
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To: rocki who wrote (1083)11/26/1999 11:53:00 PM
From: rocki  Read Replies (1) of 1341
 
Portals are expensive---you dont say!
in the globe and mail

Web portal valuations delay plans by BCE
- Friday, November 26, 1999

BCE Inc. says the "crazy valuations" of U.S. Web portals have slowed plans to expand its Internet operations through a possible equity investment south of the border.

The Montreal-based conglomerate told The Globe and Mail earlier this year that it was holding discussions about merging its Sympatico Internet service and access business with Waltham, Mass.-based Lycos Inc. or America Online Inc.'s Canadian unit.

Royal Bank of Canada beat BCE to Dulles, Va.-based AOL when it bought 20 per cent of Toronto-based AOL Canada for $60-million (U.S.) in September.

BCE has indicated it will unveil a similar type of partnership this fall.

Serge Fortin, president and chief executive officer of BCE's Bell ActiMedia unit, is leading BCE's Internet efforts. He told the Dow Jones news service that finding a U.S. portal partner is taking longer than expected because of the "crazy valuations of portal businesses."

BCE will find a portal partner, Mr. Fortin said, "but we will have to be creative" in coming up with a deal.

According to BCE chief Jean Monty, the company has three directions in which to take its Sympatico business: purchase a minority stake in a large-portal Web site such as Lycos; enter a joint venture with a U.S. portal to do business in Canada; or go it alone and invest heavily to become a global portal.
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