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@Home to announce stock split

The cable Net access service will announce a two-for-one stock split today, sources say.

Cable Net access service @Home Network will announce a two-for-one stock split today, according to sources close to the company.

@Home's board of directors has voted in favor of the split, which is slated to be announced prior to stock market trading this morning. The proposed stock split still needs shareholder approval; a vote is expected at the company's annual shareholder meeting this spring.

The stock split will be the first for the company, which went public in July 1997. Sources were unclear as to when the stock split will take effect for shareholders of record.

Stock in @Home closed nearly 1 percent higher yesterday at 107.125. The company, which delivers high-speed Internet access via partnerships with 18 cable television operators, has seen its shares trade as low as 23.5 and as high as 131 in the past 52 weeks.

Tele-Communications Incorporated, which is in the process of being acquired by AT&T, is @Home's largest shareholder.

@Home, which trades on the Nasdaq, had roughly 117 million common shares outstanding at the end of 1998.