Lycos Europe N.V. sells investment in Best of Media S.A.

Lycos Europe N.V., one of the leading European portal providers and online advertisers, agreed with Alter Finance Capital about the sale of its investment in Best of Media S.A.

Lycos Europe’s investment represents about 8% of the total share capital of BOM and is accounted for as an available-for-sale investment with a carrying amount of EUR 500,000. AFC will take over the complete investment in BOM owned by Lycos Europe for a consideration of about EUR 1.7 mln.

Lycos Europe is one of the leading European portal providers and online advertisers operating a network of websites in seven languages in Europe and the USA. The company’s combination of search, communication services, online communities, content channels, Internet access, shopping, homepage building and domain names registration addresses a wide range of target groups.