Around the Net
Terra To Launch In Europe, Aided By Telefonica
- Financial Times , Wednesday, May 9, 2012 3 AM
Terra Networks, the Latin American online media company that emerged out of a high-profile dotcom-era boom and bust story, is planning to launch in several European countries, with help from its Spanish parent company, Telefónica. Launched as the internet arm of Telefónica, Terra saw a near threefold jump in its share price at its initial public offering in 1999, valuing it at $10.99 billion. It then bought Lycos for stock in a $12.6 billion transaction, only for its value to plunge.
