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AOL, Time Warner Shares Off Day's Highs at Midday on Merger Concerns

Shares of America Online (AOL) and Time Warner (TWX) fell under pressure midday after The Wall Street Journal reported in its online WSJ.com that the European Commission's antitrust regulators have been passing around a preliminary recommendation to block the two companies' proposed merger.

Shares of both companies have been under pressure lately, in part because of regulatory concerns. Two weeks ago there were a number of reports that the

Federal Trade Commission

would impose considerable conditions on the impending merger.

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According to the

Journal

, the European Commission has given the companies until Sept. 27 to offer new concessions. AOL shares, which had been as high as $57.69 were lately at $55.75. Time Warner was as high as $84.19 today, but was recently quoted at $80.44.