Terra considering Lycos sale

30 Apr 2004

The Spanish-owned internet service provider Terra Networks has said that it is looking at a number of options for its US portal unit Lycos as part of a broader review of its operations. Some reports are speculating that Terra, which bought the US search engine for more than USD12.5 billion at the height of the dot-com bubble in May 2000, could be looking to sell for around USD200 million. Terra, which is 72%-owned by Spanish telco Telefónica, has recently announced that Lycos would in future be concentrating on subscription-based services rather than acting as a general internet portal.

Spain