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News > Technology
MSFT to sell Expedia stake
September 23, 1999: 2:54 p.m. ET

Software firm's online travel site files for initial public offering
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NEW YORK (CNNfn) - Microsoft Corp. Thursday filed to sell a stake of its Expedia online travel service in an initial public offering.
     Expedia lets Web surfers book flights, hotel rooms and car rentals. Earlier this month, Microsoft (MSFT) launched a hotel price matching service on Expedia that allows consumers to bid for hotel reservations.
     The move was a direct challenge to Priceline.com (PCLN), which has been successful in letting consumers bid for hotels, airfare and other products and services.
     Following the IPO, Expedia will become a separate company majority owned by Microsoft. Expedia will continue to provide travel services on Microsoft's MSN Internet service.
     Goldman, Sachs & Co. (GS) and Morgan Stanley Dean Witter (MWD) are acting as lead underwriters for the offering.
     Microsoft shares fell 1-5/8 to 94-7/16 in afternoon trade.Back to top

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .