America Online Inc has dismissed the possibility of a take-over by giant AT&T Corp despite rumors that its board was split on whether to accept a lucrative offer. In a joint email to staff, chairman Stephen Case and president Robert Pittman said: We are committed to remaining an independent company, as that is the best course for our customers, shareholders and employees. We continue to be eager to establish alliances with a wide range of telecommunications, media and technology companies. However, AOL’s reluctance to consider a merger, which has caused a frenzy of speculation in internet-related stocks, is unlikely to dampen the belief of AT&T’s chairman and chief executive officer Michael Armstrong that the company’s future is bound up inextricably with that of the internet.
