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Monday, 7 December, 1998, 19:47 GMT
US state drops Microsoft case
Bill Gates has just 19 states and the federal government against him
The company says there is sufficient competition in the Internet market.
South Carolina's Attorney General Charles Condon said AOL's proposed $4.2bn acquisition of Netscape Communications proved there was enough competition among Internet companies.
"Consumers have not taken a leading role in this action. That's because there are no monopolies on the Internet," he said. The lawsuit alleges that Microsoft improperly used its dominant position supplying computer operating system software on more than 90% of personal computers to wrest control of the Internet browser market from Netscape. The trial is in its eighth week. Microsoft shares leapt on the news, briefly trading at $132.75 before settling back to $131.25 up $4.875 in heavy afternoon trading on the technology-heavy Nasdaq index. There was no immediate comment from other states in the case or from the Justice Department. Microsoft chairman Bill Gates said America Online's acquisition of Netscape Communications and alliance with Sun Microsystems undermines the government's antitrust suit. He said: "When you look at this AOL, Netscape deal, it is hard to believe the government is still pushing its case with a straight face." |
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19 Oct 98 | The Company File
20 Oct 98 | The Company File
19 Oct 98 | The Company File
25 Nov 98 | The Company File
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