Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1418)	3/4/1999 10:06:00 PM
From: porcupine --''''>	of 1722

AT&T has NOT lost its mind --!!!!:> AT&T not interested in buying America Online WASHINGTON, March 4 (Reuters) - AT&T Corp. chief C. Michael Armstrong said Thursday the largest U.S. long distance telephone company had no interest in acquiring Internet service provider America Online Inc. , quashing recent reports of a pending union. "We are absolutely not interested in nor are we pursuing acquiring America Online," Armstrong, AT&T's chief executive officer and chairman, said in a speech at the American Enterprise Institute in Washington. The March 8 issue of BusinessWeek magazine reported that speculation had resurfaced on Wall Street regarding a merger between the two firms. Armstrong also knocked down reports of a potential pact in which AT&T would pay to market its telephone services to subscribers of America Online. "There was another rumor that I don't think was going on and that is that we are talking about some sweetheart deal," he said, referring to a USA Today newspaper report that the companies were in talks on an arrangement under which AT&T would pay to market its services on AOL. Last month America Online declined to comment on rumors that it was a takeover target of AT&T. Speculation about an AT&T-AOL deal goes back more than a year. ((--Washington newsroom, Phone: 202-898-8362 Fax: 202 898-8383, E-Mail washington.equities.newsroom@reuters.com))

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