Lycos Europe Puts Itself Up For Sale; Revenues Continue Decreasing
By Rafat Ali - Tue 29 Apr 2008 06:05 AM PST
Not that anyone cares about it, but Lycos Europe, the independent Euroepan portal, has put itself up for sale, and has appointed Dresdner Kleinwort as its advisor. Its reasoning and hopes: “In light of the current consolidation of this industry sector...a strategic review to evaluate its options, which may include, inter alia, a change or replacement of the main shareholders.”
The more pertinent question: its continued relevance, or lack of it. The company also reported its Q108 revenues today, and had EUR 16.2 million revenues, which decreased compared to Q107 which has revenues of EUR 20.0 million. It had net losses of about EUR 5.9 million, down from a profit of EUR 7.5 million in the year-ago quarter. The company is 32.1 percent owned by Telefonica (NYSE: TEF) and 20 percent by Bertelsmann.
Posted in: Countries, UK & Europe, VC+M&A, Mergers & Acquisitions
Tags: lycos europe
