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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Panita who wrote (33833)	11/26/1999 12:37:00 PM
From: Ellen	of 108040

biz.yahoo.com [excerpt] Thursday November 25, 2:58 pm Eastern Time Spain's Terra Networks breaks ground in Argentina By Walter Bianchi BUENOS AIRES, Nov 25 (Reuters) - Spanish Internet firm Terra Networks (NasdaqNM:TRRA - news), fresh from a spectacular stock debut, expanded its reach in Latin America's growing Internet market Thursday with the official launch of its Argentine portal. Terra, the Internet arm of Spanish telecommunications giant Telefonica (NYSE:TEF - news), also plans to spend around $200 million on its expansion throughout Latin America, company officials said. It already has sites in Brazil, Mexico, Chile, Peru and Guatemala. "We have all the necessary ingredients for this project to be a success," Juan Perea, Terra's chief executive, said at a press conference. The company raised $818 million last week in its U.S. and Spanish public offerings. It is Europe's biggest market-listed Internet company.

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