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Technology Stocks : AUTOHOME, Inc

ATHM 23.14

+0.6%

Jan 23 9:30 AM EST

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To: JayPC who wrote (19896)	3/1/2000 6:45:00 AM
From: Rob C.	Read Replies (1) of 29970

SYDNEY, March 1 (Reuters) - Internet content provider LibertyOne Ltd said on Wednesday it could relinquish its rights to host the Excite Asia Pacific portal in Australia in return for a 60 percent stake in a regional joint-venture. Through a restructure, all shares in Excite Asia Pacific would be transferred to At Home Network Australia, a venture between Cable & Wireless Optus Ltd <CWO.AX> and ExciteAtHome Corp <ATHM.O>. LibertyOne would then have 90 days to exercise an option to take a 50 to 60 percent stake in the venture which would operate in New Zealand, Singapore, Thailand, Indonesia and the Philippines. LibertyOne said under the restructured deal, it would receive A$15.5 million for the sale of its stake in the original Excite Asia Pacific joint-venture and the repayment of a A$4 million loan. It would then pay an initial A$20 million followed by A$30 million over the next three years to expand Excite throughout the Asia Pacific region. Shares in LibertyOne ended the session up 13 cents at A$1.16. REUTERS Rtr 03:52 03-01-00 //Begin Meta Data// Selector Code: reutr Copyright 2000, Reuters News Service

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