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Politics : Formerly About Applied Materials
AMAT 226.05+1.3%Nov 14 9:30 AM EST

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To: StanX Long who wrote (56956)12/5/2001 3:58:58 AM
From: StanX Long  Read Replies (1) of 70976
 
Wednesday December 5, 2:08 PM

AT and T terminates ExciteAtHome offer

sg.news.yahoo.com

AT and T said it has terminated its 307 million dollar offer to buy the high-speed Internet access service of ExciteAtHome in bankruptcy court.

The move comes on the heels of Excite -- the largest US high-speed Internet group -- striking a deal late Monday with cable operators that will keep the service running for millions of users.

Under the terms of the deal with Cox, Comcast, MediaCom, Mid Continent, Rogers and Insight Communications, Excite will receive 355 million dollars to keep the service running until February 28, Excite said in a statement.

Earlier, AT and T said it had terminated the offer because of "a number of significant breaches and other violations of the agreement" to buy ExciteAtHome's access service.
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