Ex-White House white knight for Excite@Home?

Investors are champing at the bit...

Bill Clinton's former chief of staff Mack McLarty has announced a serious interest in rescuing troubled cable player Excite@Home from bankruptcy. McLarty has not made a final offer or agreed terms, but he and his adviser Ranch C Kimball have informed Excite that they are interested in acquiring a majority or minority stake, according to anonymous sources quoted in the Wall Street Journal. Excite@Home's share price climbed 33 per cent yesterday on the news, but the cable broadband and web portal company is still under serious financial pressure, with one of its backers, Promethean Asset Management, demanding repayment of $50m of financing.