Summary:

On-the-block Lycos Europe, touting itself for sale after failing to modernise the once-mighty portal, has approached AOL (NYSE: TWX), German…

On-the-block Lycos Europe, touting itself for sale after failing to modernise the once-mighty portal, has approached AOL (NYSE: TWX), German web group United Internet and German online publishers Tomorrow Focus for a possible sale, FT Deutschland reports, citing someone close to the process. Despite fluttering its eyelashes, so far no-one has shown a real interest in the acquisition. Bertlesmann and Telefonica (NYSE: TEF), which own 32.1 percent each, have reportedly been asking for around

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