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May 29 (Bloomberg) -- Telefonica SA's 1.73 billion-euro ($2 billion) offer for its Internet unit will probably be accepted because shareholders are willing to sell a stock that's unlikely to recover from a four-year slump, investors said.
Telefonica, Spain's largest phone company, offered yesterday 5.25 euros a share for the 62 percent it doesn't own in Terra Networks SA, owner of the Lycos Web sites. That's 19 percent below the average price in the last two years.
``It's a bad price, but Terra is a dead business,'' said Xavi Torres, who helps manage the equivalent of $530 million at Popular Gestion Privada in Barcelona. ``The best way out of this dead company is to tender the shares.'' He doesn't own Terra.
all interesting stuff.
No idea what they are going to do with it. There's still a huge branding value in Lycos, but all plans to turn around the various business segments they are working in have failed so far.
You wouldn't believe this - earlier today I tried a PFI for a client today on Lycos/FAST - all I got was a MS SQL error text message on page 2 of their submission form.
This problem is persisting since last 3-4 months. Either they have not noticed it or may be they don't have time to take/earn money.