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Technology Stocks : Internet Capital Group Inc. (ICGE)
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To: Susan G who wrote (860)12/15/1999 9:49:00 PM
From: Patsy Collins  Read Replies (2) of 4187
 
Details of the F deal. This stuff will fly tomorrow!!!

BN Ford Motor Buys $50 Million Stake in Internet Capital Group
Dec 15 1999 21:42
Ford Motor Buys $50 Million Stake in Internet Capital Group

Detroit, Dec. 15 (Bloomberg) -- Ford Motor Co., the world's
No. 2 automaker, agreed to buy a $50 million stake in Internet
Capital Group Inc. and will explore a ``variety of potential
strategic relationships' with the company, ICG said.
Ford will pay $108 a share in the private placement, said
ICG, which invests in closely held electronic-commerce companies.
Further details weren't disclosed.
The investment comes as Wayne, Pennsylvania-based ICG
offered to the public 6 million shares at $108 a share and
$475 million in notes convertible into stock, raising more than
$1.1 billion. The company will use the cash to buy interests in
other e-commerce ventures and to pay interest on notes.
Last week, ICG said AT&T Corp. bought a $50 million stake at
$82 a share. ICG, which owns stakes in 47 business-to-business
e-commerce companies including VerticalNet Inc. and Deja.com
Inc., first sold stock to the public Aug. 5 at $12. The shares
fell 16 1/16 to 108 1/8 today.
Ford rose 15/16 to 49 7/16. The investment was announced
after the close of regular U.S. trading.
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