Haarlem, The Netherlands - The shareholders of Lycos Europe, the portal and Web hosting service, voted this week to liquidate the company and return $66.7 million in proceeds from asset sales to shareholders, PaidContent UK reports.

The joint venture between Telefonica's Terra, Bertelsmann and Lycos Europe CEO Christoph Monn will sell off its domain name registrar, e-commerce portal and Danish website.

As a result of the liquidation, about 500 of 700 staff are being laid off.

Related Links:
http://snipurl.com/7v5wx (PaidContent UK)

http://www.presseportal.ch/de/meldung/100575079

http://snipurl.com/7v5i8 (DMW previous coverage)

http://www.lycos-europe.com