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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21208)	8/2/2000 8:37:15 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Tuesday August 1 7:22 PM ET AOL Latin America IPO Delayed By MATTHEW BARAKAT, Associated Press Writer SPRINGFIELD, Va. (AP) - As America Online Inc. tries to increase its presence in Mexico and parts of South America, it has been forced to cut the price of its upcoming initial stock offering of America Online Latin America Inc. (NasdaqNM:AOLA - news) A spokeswoman at Salomon Smith Barney said Tuesday that the target range for IPO shares of AOL Latin America has been lowered to between $8 and $10 a share, down from the originally anticipated range of $15 to $17 a share listed in the company's latest filing with the Securities and Exchange Commission. The IPO, originally expected to price this week, will take place at the end of this week or the beginning of next week, she said. AOL-Latin America is actually a partnership between Dulles-based AOL and Cisneros Group, a large media group in Latin America. AOL spokeswoman Tricia Primrose declined to comment on AOL Latin America, citing the upcoming IPO. AOL Latin America has been in business for about 18 months and is focusing its efforts in Brazil, Argentina and Mexico. One of AOL's competitors in the Latin market, New York-based Star Media, said AOL Latin America's difficulty with its IPO doesn't reflect badly on the industry as a whole. AOL will face difficulty in the Latin market because it charges a fee for Internet service while other established providers offer a free service, Star Media said in a statement. AOL is ``a very young company moving into a market space in which there are already well-entrenched ISP players,'' Star Media said.