Lycos Europe to sell its Swedish unit Spray Network to Telenor's Glocalnet

Telecommunications Mergers & Acquisitions, December, 2006 by Anonymous

Lycos Europe, an Internet group owned partly by Telefonica and Bertelsmann, has decided to sell its Sweden-based broadband Internet and telephony unit, Spray Network, to rival fixed-line and broadband operator Glocalnet (owned by Norway's Telenor) for $24.8 million. This deal awaits approval by the Swedish Competition Authority.

Lycos Europe acquired Spray Network in August 2004. It sold Spray's Web portal business to media firm Aller Svenska for $21 million at the end of September 2006. Telenor acquired broadband service provider Utfors in December 2002, integrating its business users with the Telenor Business Solutions Unit and shifting the residential users to Glocalnet. By September 2006, Glocalnet had 119,000 users, with Spray adding 75,000 users to Telenor's group...

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