Joey - Re: "AT Home - Isn't Intel a big investor in the company"
Check this out:
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Friday July 11 6:48 PM EDT
Intel buys small stake in At Home
PALO ALTO, Calif., July 11 (Reuter) - Intel Corp. made on investment of less than $5 million in high-speed Internet access provider At Home Corp(ATHM - news) at the offering price of $10.50 a share, sources familiar with the transaction said.
One of the sources said the investment involved ''a few hundred thousand shares'' and was handled at the opening of the stock's debut on the public market.
A spokesman for Intel said the company does not comment on investments it makes, unless they are material to the company in which it is investing. But he did say Intel has been involved in a dialog with At Home since it began in 1995.
''We have a close relationship with the cable industry at large and we have an evolving relationship with At Home,'' said Intel spokesman Tom Waldrop. ''We have been involved with At Home in a dialog pretty much since the beginning.''
Intel, based in Santa Clara, Calif. has invested in roughly 100 public and private companies, including multimedia concerns, enterprise software companies, and pioneers in the area of semiconductors. Its portfolio is currently valued at around $500 million, the company said.
Industry sources valued that investment at $15 million.
Merrill Lynch, which with Morgan Stanley Dean Witter was co-manager of the team which underwrote the At Home offering, declined comment on whether Intel had made an investment.
At Home shares pushed as high as 25-1/2 in early trading, but soon retreated and to close at 17, up 6-1/2, in volume of more than 12.6 million on Nasdaq.
A total of nine million shares were sold in the offering, which underwriters priced at $10.50 a share, raising $94.5 million in total proceeds.
At Home is backed by cable television giants such as Tele-Communications Inc., Comcast
Corp., and Cox Communications Inc., in addition to high profile venture capital firm Kleiner
Perkins Caufield & Byers.
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Don't forget Intel's many other investments - INCLUDING Broadcom!
Paul |
