Re Acquisition By Terra Lycos
Banco Bilbao Vizcaya Argentaria SA
2 August 2001
Terra Lycos concludes buy into
Uno-e capital
> World's leading internet network acquires
49% of online bank
>UNO-e Board of Directors to include four BBVA and
three Terra Lycos representatives
Madrid, 2 August 2001.- Having received the Bank of Spain authorisations
necessary, BBVA and Terra Lycos today announced the conclusion of the latter's
buy into the capital of online bank. Uno-e.
Terra Lycos' buy into Uno-e will broaden the bank's scope, by adding the
expertise Terra Lycos has built up in all areas of the internet business to the
financial know-how BBVA is already contributing.
Terra Lycos has acquired 49% of Uno-e share capital, with the original developer
of the project, BBVA, maintaining the 51% controlling interest.
Following this change in the shareholder base, the Uno-e board will have seven
members, four representatives of BBVA and three from Terra Lycos.
Uno-e (www.uno-e.com) operates as a Financial Supermarket(C), that is, the
products and services it markets to its clients are generally developed by other
banks and financial institutions. This strategy has already won Uno-e, which was
launched in March 2000, more than 100,000 clients and EURO 542 million (more
than Ptas. 90 billion) in assets under management (as of 30.06.01).
Latest directors dealings
- 59 minutes ago Trekor Metals Limited
- 59 minutes ago ECR Minerals
- 59 minutes ago Zotefoams
- 14 hours ago Luceco
- 15 hours ago Helios Towers