LYCOS Europe N.V. Announces Results of Review Process

Dec 02, 2008


LYCOS Europe N.V., a portal provider and online advertiser, announced the results of its strategic review process. LYCOS and its advisors have evaluated the different available options including the sale of the company as a whole, a sale of all or parts of the assets of LYCOS, and restructuring and partial liquidation of the business. As a result of this strategic review process the Management Board and the Supervisory Board of LYCOS came to the conclusion that the best available option of the company is to (i) strive for a sale of its domains, Danish portal and shopping activities and (ii) to discontinue the portal and webhosting activities. As a result of this conclusion LYCOS intends to distribute an amount of EUR 50 million in 2008 to its shareholders.