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Technology Stocks : AUTOHOME, Inc

ATHM 25.05

+2.9%

Nov 10 3:59 PM EST

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To: RMP who wrote (18817)	1/14/2000 8:36:00 AM
From: GraceZ	Read Replies (1) of 29970

ExciteAtHome shares surge on merger rumors Reuters Story - January 13, 2000 19:36 PALO ALTO, Calif., Jan 13 (Reuters) - Shares of the Internet company ExciteAtHome Corp surged Thursday amid renewed speculation it could become an acquisition target of AT&T Corp . The investment firm Kaufman Bros. issued a reseach report saying it anticipated AT&T "must launch a friendly bid" for ExciteAtHome, "to strengthen its position in the cable broadband marketplace and to gain a leading position in the (Internet) portal space." ExciteAtHome shares rose 6-15/16 Thursday to close at 42-9/16. The Kaufman research report stated that America Online Inc's planned purchase of Time Warner Inc raises the stakes for AT & T, which currently lacks an Internet content, and a significant Internet service provider presence. ExciteAtHome was not immediately available to comment on the report. The company is partially owned by AT & T currently, although it is in the process of spinning off its media assets in a tracking stock to trade separately from its Internet access business. Under that deal, AT & T would give up its stake in the media assets but retain a share of the AtHome Internet access business.

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