AOL Still Sees Closing Time Warner Deal by Early Days of 2001 - TheStreet

AOL Still Sees Closing Time Warner Deal by Early Days of 2001

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America Online

(AOL)

reiterated that its pending acquisition of

Time Warner

(TWX)

was in the "home stretch" and said it expects to close the deal by the end of December or the first days of 2001.

On Nov. 28, the

Federal Trade Commission

postponed a vote to block the merger. Federal regulators have required Time Warner to provide open access to its cable system to two more competing Internet service providers, as well as abide by a series of provisions to protect competition in Web access. The company has so far signed an agreement with broadband company

EarthLink

(ELNK)

.

Shares of AOL were recently up 7.3%, or $2.98, to $44.03, while Time Warner gained 6.6%, or $4.08, to $65.68, in trading on the

New York Stock Exchange

.