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News Burst: BT buys into Excite
BT has announced that it intends to buy a 50 per cent share in Excite Inc. subsidiary, Excite UK.
George Bell, CEO of Excite Inc, said: "Our joint venture with BT continues our international strategy of choosing the best local partner in each market where we want to establish our business."
BT's $10m (£6.1m) investment in the subsidiary is further evidence of BT's efforts to boost its presence in popular Internet portals.