Excite@Home Calls Off Deal

Excite@Home called off a joint venture with Dutch communications giant UnitedGlobalCom to deliver high-speed Internet access overseas. Executives of the cable modem company said market conditions led UnitedGlobalCom to ask for changes in terms of the deal, and the alternative proposals offered would hamper Excite@Home’s international expansion. When the deal was announced in July, the companies said it would create the largest provider of high-speed Internet access outside North America. Excite@Home shares closed off 31 cents at $5.88 on Nasdaq but rose as high as $6.13 in after-hours trading. The news came after U.S. trading ended.