Spanish Internet service provider Terra Lycos plans to sell Lycos for between $95 million and $115 million, the company said Wednesday. It bought the U.S. portal company for about $12.5 billion in stock four years ago.

The price is slightly above Lycos's book value of 75 million ($90.36 million). Terra did not name the buyer, but Spanish newspaper Expansion reported earlier it was a South Korean group.

Terra said it would keep some Lycos assets, including the stake of almost 30 percent that Lycos has in Lycos Europe.

By: DocMemory
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