Excite@Home Corp. president George Bell says there is “no truth to the story” that his company is in talks to merge with rival Yahoo!
Bell was responding to a BusinessWeek Online report that the two companies have held talks on a deal that would value Excite@Home at something more than its current market value of about $17 billion.
Bell left no doubts about his position on the rumor: When asked by a reporter if his comments amounted to a denial of the merger talks story, Bell said, “That’s a denial.”
@Home stock, which rose more than $6 in early trading, fell back sharply following the denial statement.
The complete report is available at www.zdnn.com.