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Subject: UKNM: Excite deal
From: Alex Dale
Date: Fri, 27 Nov 1998 13:08:07 +0000 (GMT)

Re. the deal - Excite current market cap is around $2.5 billion (the
valuation obviously takes future growth into account). But the BT deal
values Excite UK at $20 million, under 1% of the parent service. Given
relative GDP, uptake of the Internet and transaction / ad spend in the
UK relative to the US, the price seems extraordinarily low for half the
future value of the UK edition of Excite.

By the way, it appears that BT have neatly managed to get Excite and
Yahoo to promote their "Click" brand (and carefully co-ordinated
everything so that they go live in the same week).


UKNM is sponsored by Excite UK, visit us at http://www.excite.co.uk.
Email Khalil Ibrahimi khalilatexcitecorp [dot] com (mailto:khalilatexcitecorp [dot] com) to advertise on Excite.
Change your UKNM subscription use http://www.chinwag.com/uknm.html

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