Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: H James Morris who wrote (52728)	4/26/1999 7:25:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

FOCUS-WHSmith<SMWH.L>joins UK cyber-league (Adds analyst comment, updates share price) By Jane Merriman LONDON, April 26 (Reuters) - Bookseller W.H. Smith Group on Monday became the latest British company to launch a free Internet service -- WHSmith Online -- combining virtual shopping with education, entertainment and travel. Smith, already a mini-cyber star via its online bookstore, Internet Bookshop, saw its shares race ahead on hopes the new service will boost revenues going forward. The stock stood 45-1/2 pence higher at 786 pence, up about six percent. Analysts said the new "portal" service would expand Smith's existing Internet presence, which includes Internet Bookshop, plus Helicon, the online reference publisher, which it bought in January. "The content and educational element make it a very credible offering," said one analyst. Chief Executive Richard Handover said the online package would tap the millions of customers who visited Smith's stores each week. "This launch is only the start for WHSmith Online. Over the coming months we will be broadening and deepening its appeal," he said in a statement. The service will go live from Tuesday and customers will be able to pick up a CD-Rom disc, costing 50 pence (81 cents), from any branch of Smith's 700 UK high street stores to connect to the Internet. Smith will use the proceeds to fund WHSmith literacy programmes. Free access to the Net is via BTClick, British Telecommunication's <BT.L> Internet service provider. It offers a wide range of educational material, including the Hutchinson Family Encyclopedia, plus links to thousands of educational web sites, including guides to Britain's National Curriculum for schools. There is unlimited free e-mail per family, plus a wide range of online services and information provided by Microsoft's <MSFT.O> MSN. Smith is offering 10 retail sites, including five WHSmith shopping sites, selling books, CDs, videos, games magazines and travel. The service has online news and articles from magazines such as The Economist, Ideal Home, Good Food and Vogue. Smith had flagged the launch last month when it announced the joint ventures with BT and Microsoft. The retailer will earn money from advertising revenues, from selling via the Net, and receive a share of BT's connection charges. Internet-for-free has been growing rapidly in Britain since electricals retailer Dixons Group <DXNS.L> launched Freeserve last autumn. Freeserve rapidly became the UK's top service provider and Dixons is now looking at a partial flotation, valued at an estimated two to four billion pounds. Analysts predicted Smiths shares had some way to go on the back of its Internet business, with some suggesting 10 pounds ($16.15) as a target. Others valued the core business at about 6.50 pounds, with the Internet element worth about one pound. But they stressed valuations were tricky, pointing to the huge multiples for U.S. online firms like Yahoo <YHOO.O> and bookstore Amazon <AMZN.O>. ($1=.6191 Pound) ($1=.6191 Pound) REUTERS Rtr 11:27 04-26-99