Phone company to buy Netcom

Local telephone exchange carrier ICG Communications Inc. will acquire Netcom On-line Communications Services Inc.

Local telephone exchange carrier ICG Communications Inc. will acquire Netcom On-line Communications Services Inc., for $283.5 million in stock. The combined company will have 330 Internet points-of-presence, more than 40,000 dial-in access ports, and nearly 2,900 fiber route miles. The deal is expected to be completed in the first quarter of 1998.