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AOL, Time Warner surge in pre-morning trading

Investors show early enthusiasm for announced merger

Investors whetting their teeth in advance of the opening bell pushed up shares of both Time Warner and America Online in pre-market trading. Shares of Time Warner soared 30 to trade at 95 on Instinet. AOL stock gained 13 to 85-7/8. The two media giants announced plans early Monday to merge in an all stock deal with a market capitalisation of $350bn (£217bn).

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