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Technology Stocks : TERRA NETWORKS (TELEFONICA INTERACTIVA) TRRA
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To: adsorb who wrote (91)5/3/2000 4:31:00 PM
From: adsorb  Read Replies (1) of 97
 
IDT Corp To Increase Equity Stake In Terra Networks

NEWARK, N.J. -(Dow Jones)- IDT Corp. (IDTC) will increase its equity
stake to 49% in Terra Networks SA (TRRA), the Internet unit of
Telefonica SA (TEF), Madrid.
In a press release Wednesday, IDT said it will receive 3.75 million
Terra shares if they are issued and delivered on or before July 31.
Alternatively, IDT could get 4 million Terra shares if they are issued
and delivered between Aug. 1 and Sept. 30.
IDT, a telecommunications company, will also receive a 10% stake in
Terra Networks Interactive Services.
-Maria P. Vallejo; Dow Jones Newswires; 201-938-5388
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2000 Dow Jones & Company, Inc.
All Rights Reserved
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