Europe’s biggest Internet unit, Terra Networks announced it will be setting up operations in the Santo Domingo Cyberpark. The first phase of the high tech park, that is located near Las Americas International Airport, is slated to be operational by August of this year. Jean Perea Saenz, chief executive of Terra, and Dominican Rafael Bonelly Ricart, content director, announced the company’s intent of consolidating in the DR an Internet center that will serve Latin America. The company has plans to invest more than US$2 million in the project. Terra Networks is the top Spanish-speaking access/content provider operating in Latin America and the Iberian peninsula. It is the Internet unit of Telefónica, Spain’s largest telecoms group that began trading on the Nasdaq in November 1999. Merrill Lynch describes the company as "a must own in European Internet basket." The company is big news in Europe today. Terra Networks will enter Spain’s Ibex index of the 35 most-traded stocks, the Spanish bourse society just announced on Friday, 14 January. Terra provides Internet access and services and has agreements with a number of big Spanish companies like computer reservations system Amadeus, the country’s biggest department store El Corte Inglés and bank BBVA, to be formed this month when BBV and Argentaria complete their merger.
