According to the Spanish economic daily Expansión, the Spanish telecommunications group TELEFONICA is considering a stake swap with the German BERTELSMANN. The plan concerns the exchange of stake in TELEFONICA MEDIA against the 18% that BERTELSMANN owns in LYCOS. This exchange enables TERRA LYCOS to increase from 29% to 47% its stake in LYCOS EUROPE. Furthermore, TELEFONICA announced having bought all the stakes held by its fellow national IBERDROLA in the Brazilian telecommunications companies in which the two groups are partners. The operation notably covers a total amount of USD 313 million.