euro adhoc: Lycos Europe N.V.
Strategic management decisions
LYCOS Europe to
sell its Swedish access business for EUR 19 million
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
23.11.2006
ADHOC RELEASE
LYCOS Europe to sell its Swedish access business for EUR 19 million
Haarlem/Netherlands, November 23, 2006. LYCOS Europe N.V. (ISIN
NL000023319), one of Europe's leading portal providers and online
advertisers, today agreed with Glocalnet Scandinavia AB ("Glocalnet")
about the sale of LYCOS Europe's Swedish access business.Glocalnet will take over LYCOS Europe's access business in Sweden which operates under the brand Spray for EUR 18.9 million (SEK 172 million) in cash. The transaction will have a positive one time effect on LYCOS Europe's net result of around EUR 8.1 million presumably in the fourth quarter 2006. One time transaction costs of around EUR 2.5 million and an impairment of EUR 2.5 million will have a negative impact. The disposition is subject to clearance by the Swedish Competition Authority.
As previously reported on October 1, 2006, LYCOS Europe has already sold the Spray portal business to Aller Svenska AB for around EUR 16 million (SEK 150 million).
Spray has been an access provider since 1999 and offers telephony products since 2001 as well. It is one of the five leading broadband providers in Sweden and has a customer base of around 190,000, whereof around 75,000 customers subscribed for Spray broadband, around 70,000 customers for Spray narrowband and around 45,000 customers for Spray telephony products.
About Lycos Europe Lycos Europe (ISIN NL0000233195) is one of the leading European internet destinations operating a pan-European network of websites in eight languages. The company's combination of search, communication services, content channels, Internet access, homepage building and online communities addresses a wide range of target groups. The Lycos Europe Network provides an attractive medium not only for consumers but also for advertisers and e-commerce partners throughout Europe. Every month about 30 million users visit the Lycos sites in Europe. With a network of websites covering Austria, Denmark, France, Germany, Great Britain, Italy, the Netherlands, Spain, Sweden and Switzerland, Lycos Europe has a large geographical reach in Europe.
For further information please contact: LYCOS Europe
|Investor Relations |Public Relations | |Sascha Wittler |Ina J. Kruse | |T: +49-(0)5241-80-71134 |T: +49-(0)5241-80-71050 | |F: +49-(0)5241-80-671134 |F: +49-(0)5241-80-671050 | |E: sascha.wittler@lycos-europe.com |E: ina.kruse@lycos-europe.com |
end of announcement euro adhoc 23.11.2006 18:38:54
Further inquiry note:
Ina J. Kruse
Telefon: +49(0)5241 8071050
Email: ina.kruse@lycos-europe.com
Branche: Software
ISIN: NL0000233195
WKN: 932728
Index: Prime All Share, Technologie All Share
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