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Technology Stocks : StarMedia Network, Inc. (STRM)
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To: adsorb who wrote (511)4/4/2000 11:35:00 AM
From: adsorb   of 518
 
StarMedia chief says prepared to consider merger Headlines


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04/03 15:47

NEW YORK, April 3 (Reuters) - Latin American Internet company StarMedia Network Inc.'s (STRM) chairman and chief executive said on Monday that under certain circumstances he would agree to a merger with larger U.S. Internet players, but stopped short of saying any talks had been held.

"Our business plan continues to be to grow our franchise and our brands," said Fernando Espuelas in a telephone interview. "If we can make that platform faster and more powerful by teaming up with someone, then we would."

Espuelas stopped short of saying he had held such discussions with U.S. Internet companies such as America Online Inc. (AOL), Yahoo Inc. (YHOO) and Microsoft Corp. (MSFT)

"Every single day we become more valuable to our shareholders and the market, theoretically," he said. "Anyone who is looking to establish themselves as a player in this market would see us as a partner."

StarMedia on Monday released a study of its Spanish- and Portuguese-Internet media users, which found that users spend an average of 10.4 hours online each week, up from 8.2 in 1998.

Some 42 percent of StarMedia users have shopped online in the past 12 months, up from 29 percent in 1998.

The emerging Internet market in Latin America has drawn increasing attention of U.S. Internet companies. StarMedia's shares closed down 4-1/16 at 26, down from its year high of 70, and near its year low of 24.

Reuters owns a minority stake in StarMedia.

REUTERS

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