Terra Networks Says No Lycos Deal Sealed Yet

PARIS (05/16/2000) - Terra Networks SA today denied reports that it had already concluded a deal to take over portal operator Lycos Inc.

"Terra is having conversations with Lycos but we cannot say whether they are going to end in any agreement," Terra spokesman Pablo Fuentes said today.

Terra, an Internet service provider 70 percent owned by telecommunications operator Telefónica SA, was widely reported this morning to have concluded a deal worth between US$10 billion[b] and $12 billion[b] to acquire Lycos Inc.

An announcement confirming the deal could be made as early as today, the New York Times reported, but Fuentes said this was not the case. If a deal were concluded, he said, the announcement "may be tomorrow, it may be next week."

Terra Networks, in Madrid, can be found on the Web at http://www.terranetworks.com/. Telefónica, in Madrid, can be reached via the Web at http://www.telefonica.com/. Lycos, in Waltham, Massachusetts, can be reached at +1-781-370-2700 or at http://www.lycos.com/.

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