Lycos Europe sells stake in Czech portal

Lycos Europe, one of the leading European portal providers and online advertisers, has agreed to sell its 30% stake in Seznam.cz, a.s, a portal provider based in Prague, Czech Republic, to partners Tiger Holding Four S.à.r.l and Miura International S.à.r.l.

Both parties together will take over all of Lycos shares for a consideration of EUR 65 mln in cash. The parties expect to close the transaction within 10 business days.

Lycos Europe is one of the leading European internet destinations operating  a pan-European network of websites in seven 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 31 mln users visit the Lycos sites and by Lycos Europe distributed partner sites in Europe. With a network of websites covering Austria, Denmark, France, Germany, Great Britain, Italy, the Netherlands, Spain, and Switzerland, Lycos Europe has a large geographical reach in Europe.