@Home Acquires Excite In Largest Internet Merger Yet

@Home, provider of high speed internet access, announced this week that it is to buy Excite, the loss-making internet search company, in a $6.7 billion deal. The deal is the biggest merger yet in the internet sector, and follows the acquisition of Netscape by AOL last year (see Newsline).

BT owns a 50% stake in Excite UK (see Newsline). The merger is expected to improve the alliance between the British telecommunications operator and AT&T, the biggest US telecommunications group, which is in the process of acquiring TCI (Tele-Communications Inc), @Home’s major shareholder.

Excite Inc: 0171 447 1803 BT: 0171 492 8470