Singapore Telecom Dumps Lycos Asia Stake for $1

Man, that’s gotta hurt…Singapore Telecommunications, Southeast Asia’s largest phone company, has sold its 50 per cent stake in the Internet portal Lycos Asia – a venture once valued at $50 million US – for $1…Terra Lycos, now owns the entire venture.

Lycos Asia slashed 30 jobs last July, leaving only a skeleton staff.