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BCE buys back Lycos shares in Sympatico

     
11:37 am on Sep 16, 2002 (gmt 0)

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BCE and Lycos finally agreed on a restructuring of Sympatico(Canada's biggest portal). They annouced last friday that BCE is to buy back the 29 % of shares Lycos had in Sympatico.

Lycos aquired those shares 2 1/2 years ago in exchange for Internet content. It seems that BCE was not satisfied with the deal. They switched to Google search results in January. Now a done deal.

A little more here [canada.com].

11:57 am on Sept 16, 2002 (gmt 0)

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Good find Macguru.

I wonder what Lycos will get from this. Cash? Not much I suppose?

12:42 pm on Sept 16, 2002 (gmt 0)

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I think cash or other values. Monetary arrangements are still undisclosed.

The official version dont tell us much about it.

www.bce.ca/en/news/releases/bg/2002/09/13/69308.html

One thing is for sure, The french version of the Sympatico portal gets a lot more visitors and page views since they switched to Google. So the portal gets more revenues.

I know switching to Google was an unilateral move from Sympatico. The negociaciations for an arrangement took some time. I will try to know more.