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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (15778)	9/30/1999 8:12:00 PM
From: BrooklynDave	Respond to of 29970

NEW YORK (CNNfn) - Amid rumors that Excite@Home Corp. may split into two companies, AT&T Corp. said Thursday it is exploring "many alternatives" regarding its ownership interest in the firm. The Los Angeles Times reported Thursday that Excite@Home, a cable-based Internet provider, is considering splitting the online service from the portal. Also, rumors that America Online Inc. (AOL) is considering acquiring the Excite portal sent Excite@Home (ATHM) shares soaring earlier this week. In August, AT&T (T), which holds a 58-percent interest in Excite@Home, denied it was involved in any such proposal with AOL. After the market close Thursday, however, AT&T said in a statement that it continues to explore strategic alternatives regarding its ownership interest in Excite@Home. "The alternatives include internal options as well as discussions with third parties," AT&T said. "The exploration of alternatives remains at the very preliminary stage, and at this time, AT&T has not made any decision to pursue any particular alternative or transaction." The company's comments appear to be at odds with remarks made earlier Thursday by Thomas Jermoluk, Excite@Home chairman and chief executive officer. At a technology conference in New York, Jermoluk said Excite@Home expects to continue a long-term relationship with AT&T. "Michael Armstrong [AT&T's CEO] has been very public in saying that AT&T expects to fulfill its contract with us," Jermoluk said. AT&T's contract includes the provision that grants Excite@Home exclusive Internet use of AT&T's cable systems. That contract expires in 2002. @Home acquired Excite earlier this year in an all-stock deal then valued at $6.7 billion. Excite@Home shares fell 2 to close at 41-7/16 before AT&T released its statement. Its stock rose to 43-1/2 in after hours trade. AT&T shares finished unchanged at 43-1/2.