Telefonica SA
12 May 2000
Telefonica's subsidiary 'TERRA NETWORKS, S.A.', in accordance with that stated
in Article 82 of the Stock Market Law and that set forth in Circular 14/1998 of
the Spanish National securities Market Commission of the 28 December of 1998
and in fulfilment of the request of the aforementioned Organism, hereby
communicates the following:
RELEVANT FACT
In relation with the news published today by the media, and in response to the
request for information made by CNMV, we would like to announce that, Terra
Networks S.A. in its normal course of activity, holds talks with different
enterprises within its sector with an aim to reaching agreements that benefit
the shareholders.
Within this same framework, talks are currently being held with Lycos, although
to date no definite agreement worthy of publication has been reached, neither is
there any certainty that this will necessarily happen.
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