Excite@Home to close in February

NEWS Excite@Home will cease operations on 28 February 2002 following AT&T's decision to withdraw its $307m bid for the firm's assets. The news confirms yesterday's rumours, as reported on silicon.com, and will lead to the company's 4.1m subscribers being transferred to established cable companies. AT&T had owned 79 per cent voting interests in the company, and had been the only bidder for Excite@Home's assets. But other shareholders insisted its $307m offer was less than one third of the company's true value.