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Article: DAUM COMMUNICATIONS SHARES FALL ON LYCOS ACQUISITION REPORTS.
- Article from:
- AsiaPulse News
- Article date:
- July 29, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SEOUL, July 29 Asia Pulse - Shares in Daum Communications Corp. (KOSDAQ:035720), South Korea's largest Internet portal, fell by as much as 5 per cent Thursday on reports that the company is planning to acquire Internet portal Lycos from Spanish company Terra Networks.
The secondary Kosdaq Stock Exchange asked Daum to clarify media reports about the alleged negotiations. The exchange gave the South Korean Internet portal until this afternoon to reply.
Daum shares slid 5.18 per cent to 33,850 won at 11:31 a.m. in Seoul.
On Wednesday, one Us media agency reported that Terra Networks had found a potential buyer for its Internet unit Lycos, in a ...