To: amadeus who wrote (31034 ) 11/22/1999 1:20:00 AM From: Ellen Read Replies (1) | Respond to of 108040
Looking at those charts, it does show that European internets are starting to get attention. Think TRRA should be included in that list.dailynews.yahoo.com "It's the largest Internet stock in Europe and if you're a fund manager wanting exposure to the IT sector, you have to buy Terra," said David Freddi, an Internet analyst with Standard & Poor's Marketscope in London. Terra, a subsidiary of Spanish telecoms group Telefonica, had offered just over 66 million shares including a greenshoe, or 23.6 percent of its capital. Telefonica will retain a nearly 70-percent stake in Terra, giving the unit powerful backing in Spain and Latin America, where Telefonica has around 54 million telephone clients. biz.yahoo.com Citibank Launches ADR Program for Terra Networks Major Provider of Hispanic-Language Internet Access and Related Services to List On NASDAQ NEW YORK--(BUSINESS WIRE)--Nov. 19, 1999--Citibank announced today it has established an American Depositary Receipt (ADR) program in connection with the sale of ordinary shares of Terra Networks, S.A., a leading provider of Internet access and interactive content and services in the Spanish- and Portuguese-speaking world. The ADRs will trade on the NASDAQ. Each ADR issued under the program represents one ordinary share and trades under the symbol "TRRA" (CUSIP No. 88100W103). Terra Networks' ordinary shares have started trading on Spain's Bolsa de Madrid. "Citibank is delighted to help Terra Networks continue its successful efforts to expand and enhance the high-quality Internet access and related services it provides to an ever-widening Spanish- and Portuguese-speaking community," said Kurt Schneiber, Global Managing Director of Citibank Depositary Receipt Services. "Citibank's guidance in connection with Terra Networks' listing on NASDAQ will help us to take full advantage of this excellent opportunity to increase our presence in the U.S., and expand our relationship with U.S. investors" said Juan Perea, Chief Executive Officer of Terra Networks, a subsidiary of Telefonica S.A. Terra currently provides Internet access services in Spain, Brazil, Mexico, Chile, Peru, the United States and Guatemala and has portals in these countries and in Argentina, but not as yet in the U.S. Monthly, more than 860,000 customers make 22 million Web site visits and view 290 million pages via Terra Networks systems. The company recently signed two joint venture agreements with IDT Corporation to provide an access service to the Hispanic community in the U.S., where IDT already has 46,000 customers, and to launch a portal in the U.S. by the end of 1999. ... Sorry, but I don't understand the attraction of EWEB. From its Yahoo profile:EuroWeb International has exitted the construction business and sold a 51% interest in EuroWeb RT. The Company currently doesn't have a business but is seeking to acquire other ISP companies in E. Europe. For the six months ended 6/30/99, revenues fell 91% to $72 thousand. Net loss from continuing operations fell 48% to $200 thousand. Results reflect lower internet revenues, offset by higher equity in Euroweb Rt. and lower compensation costs.