MSFT Internet Explorer vs. NSCP Navigator Message Board

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Technology Stocks : MSFT Internet Explorer vs. NSCP Navigator

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To: Cory Gault who wrote (21979)	12/7/1998 2:25:00 PM
From: XiaoYao	Read Replies (3) of 24154

South Carolina Drops Microsoft Antitrust Suit WASHINGTON (Reuters) - South Carolina's attorney general said Monday the state will drop out of the antitrust lawsuit against software giant Microsoft Corp. (Nasdaq:MSFT - news), citing abundant competition among Internet companies. The first to pull out of the case brought in May by the federal government and 20 states, Attorney General Charles Condon said America Online Inc. (NYSE:AOL - news)'s proposed $4.2 billion acquisition of Netscape Communications Corp. (Nasdaq:NSCP - news) proved there was plenty of competition in the market. Shares of Microsoft jumped to a new high on the news, briefly trading at $132.75 before settling back to $131.25 up $4.875 in heavy afternoon trading on Nasdaq. There was no immediate comment from other states in the case or from the Justice Department. ''Recent events have proven that the Internet is a segment of our economy where innovation is thriving,'' Condon said in a statement. ''Further government intervention or regulation is unnecessary and, in my judgment, unwise.'' Condon disputed that the case would benefit consumers, as other government attorneys argue. ''Consumers have not taken a leading role in this action,'' Condon said. ''That's because there are no monopolies on the Internet.'' The lawsuit alleges that Microsoft improperly used its dominant position supplying computer operating system software on more than 90 percent of personal computers to wrest control of the Internet browser market from Netscape. The trial begins its eighth week Tuesday with Sun Microsystems Inc. (Nasdaq:SUNW - news) executive James Gosling on the witness stand.

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