Telefonica Increases Stake in Terra Lycos
Jul 27, 2003, 12:00 AM
Dow Jones reported on Friday that Telefonica SA has control of 71.97% of the share capital of Internet unit Terra Lycos SA , following the conclusion of its buyout offer. Telefonica owned 38% of Terra when it launched the bid, offering EUR5.25 for each remaining share. The result means it has paid EUR1.06 billion for increasing its stake, Dow Jones reported.