To: Venkie who wrote (91126 ) 1/25/1999 10:43:00 AM From: Mohan Marette Respond to of 176387
<--OT--MSFT> MSFT Invest $500 mil in NTL No.3 cable co in UK. Damn you got me beat,I only got 500 shares of MSFT,well a thousand after the split,oh well I'll make it up on DELL.<g> ==========================Microsoft to Split Stock, Invest $500 Million in NTL (Update1) Microsoft to Split Stock, Invest $500 Million in NTL (Update1) (Adds NTL investment in 2nd paragraph, background in 3rd and 5th. Updates stock prices.) Redmond, Washington, Jan. 25 (Bloomberg) -- Microsoft Corp., the world's largest software maker, said it will split its stock 2-for-1 in March after the shares more than doubled in the past year. Microsoft also agreed to invest $500 million in NTL Inc., the U.K.'s No. 3 cable company, to speed delivery of high-speed voice, video and Internet services in Britain and Ireland. NTL shares surged 11 1/16 to 78 3/4 in early trading. Microsoft rose 3 3/4 to 160 and was the most-active U.S. stock. Microsoft is benefiting as companies buy more software, sending its fiscal second-quarter profit up a better-than- expected 75 percent. The NTL investment, Microsoft's latest interest in a phone or cable provider, gives the company entree into the U.K. cable market. Both moves show Microsoft isn't being held back by the U.S. antitrust investigation. The split is effective March 26 for shareholders of record March 12. It's the eighth time that Redmond, Washington-based Microsoft has split its shares since it went public in March 1986. Microsoft touched a record 167 3/4 Wednesday, more than doubling from 69 5/16 on Jan. 22, 1998. The company's last split, a 2-for-1, was on Feb. 23, sparking a 5.2 percent jump that day. The company said as of Dec. 31, it had about 2.5 billion common shares outstanding. --------------------------------------------------------------------------------