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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: VidiVici who wrote (40392)	5/3/1999 12:36:00 PM
From: DiViT	Read Replies (1) \| Respond to of 50808

MediaOne approves AT&T buyout offer By Corey Grice Staff Writer, CNET News.com May 2, 1999, 11:00 p.m. PT MediaOne Group's board of directors has reportedly accepted AT&T's $62 billion buyout bid, triggering a five-day countdown for fellow cable operator Comcast to counter or walk away. MediaOne's board officially accepted AT&T's offer after huddling to discuss the proposal over the weekend, according to Bloomberg. The move comes as no surprise, as industry observers and analysts called AT&T's offer superior after the long distance company first offered to buy the No. 3 cable operator less than two weeks ago. AT&T's surprise offer topped Comcast's original $60 billion bid in terms of financial value and contained a sizable amount of cash in addition to stock. Comcast now has until Thursday to respond, Comcast treasurer John Alchin told Bloomberg. news.com