priceline.com Up on Stock Deal
priceline.com (PCLN) was up 18.3% in preopen Instinet trading after Cheung Kong (Holdings) and Hutchison Whampoa, two companies controlled by Hong Kong's richest man, Li Ka-shing, said they would buy a combined 25 million shares from the company's founder, a deal that could help the name-your-price Internet site expand overseas.
The $109 million purchase boosts their joint stake in priceline to 30%.
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