Preopen Trading: Futures Point to Flat Open for Broad Market
News that WorldCom(WCOM Quote) was in talks to buy Intermedia Communications(ICIX Quote) was the big attention-grabber this morning in preopen trading on Instinet. It was sending Digex(DIGX Quote), in which Intermedia has a 54% stake, up 50 cents to $85. Intermedia was traded at $34.38, a big jump from its Friday close of $22.88. Worldcom hadn't traded on Instinet this morning.
Also on Instinet, Terra Networks(TRRA Quote), a provider of Internet access and content in Spanish- and Portugese-speaking countries, was up $1.50 to $44.50. Terra's merger with Internet portal Lycos(LCOS Quote) is expected to close next month.
And Niagara Mohawk(NMK Quote) was fetching a bid of $14.50, up 62 cents, on news that National Grid(NGG Quote) was going to buy the company for $3 billion. ...
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