Priceline.com to Let Callers Name Price

Priceline.com Inc. said it will soon let Internet shoppers name their price for long-distance telephone calls, adding to its service for plane tickets, hotel rooms, cars and mortgages. Starting in late February or March, U.S. consumers will be able to name a price for domestic and international calls from their home phones, the company said. The company signed a three-year agreement with Net2Phone Inc., which will pay Priceline.com $18 million. Priceline.com also will receive revenue from long-distance service purchased by its customers. Customers will submit a price they’re willing to pay for long-distance service. That offer will be evaluated based on carrier network capacity. If the price is accepted, Priceline.com will purchase the call from the long-distance carrier, earning a spread between what it paid and the customer’s offer. On Nasdaq, Stamford, Conn.-based Priceline.com rose $9.13 to close at $61.75, while Net2Phone, based in Hackensack, N.J., rose 38 cents to close at $48.50.