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Technology Stocks : AUTOHOME, Inc

ATHM 24.06

+2.0%

Dec 10 3:59 PM EST

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To: Bob Williamson who wrote (23793)	7/21/2000 9:58:48 PM
From: KW Wingman	Read Replies (2) of 29970

UPC <UPEC.AS> shares still ride high on Excite AMSTERDAM, July 20 (Reuters) - Shares in Dutch-based cable television operator UPC <UPCOY.O> were stronger on Thursday as investors cheered its deal with ExciteAtHome <ATHM.O>, traders said. UPC shares added 6.8 percent to 33.80 euros as 1250 GMT. "Everyone's still excited about Excite Chello...everyone's hoping it will lead to the revival of UPC," said one trader, who did not want to be named. UPC announced on Tuesday it had reached an agreement to merge chello with the international assets of ExciteAtHome, forming a pan-European cable-based Internet service provider worth about $5 billion. "They are hoping this is the trigger that will get UPC back up to the 47 euro level so it could buy SBS. It needs European content it would get from SBS." UPC backed out of its planned $2.8 billion takeover of European broadcaster SBS <SBTV.AS> after its share price fell from 83.32 euros before the announcement to a low of 17.80 euros on May 19. Europe's largest cable operator in terms of number of customers, UPC is 51 percent owned by UnitedGlobalCom <UCOMA.O>. Microsoft Corp <MSFT.O> owns eight percent of UPC's shares.

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