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To: Art Baeckel who wrote (21215)	8/2/2000 2:27:13 PM
From: Art Baeckel	Respond to of 22640

Terra shr issue for Lycos merger to end in October Reuters Company News - August 02, 2000 06:30 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. MADRID, Aug 2 (Reuters) - Spanish Internet company Terra Network's planned 2.2 billion euro ($2.02 billion) capital increase ahead of its merger with U.S. search engine Lycos should start in mid-September and end in October, Terra said on Wednesday. Terra's parent Telefonica is underwriting the issue. "Telefonica and Terra estimate that the close of the deal could take place in October, once the Lycos shareholders' meeting is over," a statement said. The issue is designed to inject cash into the Spanish Internet company before the merger takes place. After that, a capital increase of up to 341 million new shares is planned to cover the merger itself. Terra launched a friendly all-share bid for Lycos in May.