Terra Lycos looks to sell US business
29 April 2004
Terra Lycos has announced plans to sell one of the web's oldest search engines.
The Spanish-based group has retained investment bank Lehman Brothers to explore a possible sale of its US internet business.
Terra Lycos' US enterprises include the flagship Lycos.com website, which it acquired for $12.5 million at the height of the internet boom. The group's US division is now reportedly for sale for just $200 million.
Analysts have suggested that Google, MSN, Ask or Yahoo could make a ply for Lycos, in a bid to strengthen their position in the increasingly competitive search market.
Terra Lycos is hoping to sell Lycos for cash or liquid shares according to CNet. Terra is believed to be seeking a buyer for the Lycos division in order to focus on its Spanish and Portuguese language businesses.
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