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Reuters is reporting that AOL and Bertelsmann have called a press conference in Hamberg on Monday at 1000 GMT to discuss details of a deal with CompuServe.

A spokesman for (it appears) the AOL-Bertelsmann venture is quoted as saying, "It's about the Compuserve deal." Bernd Schiphorst, Bertelsmann director of multimedia, will attend the news conference.

Of immediate interest to CompuServe shareholders are these details, as reported by Dow Jones:

"Shareholders of CompuServe are expected to receive a fixed ratio of stock worth about $13 a share, say people familiar with the situation. If WorldCom stock falls below a certain level, shareholders of CompuServe will have a "floor" at $12 a share. That means they would receive more shares of WorldCom stock to compensate for the price decline, but won't have to give up stock if WorldCom's stock rises."

Compuserve closed Friday at $13.50.

TMF Nico
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