Lycos Asia Receives China License to Operate Internet Site.(Brief Article)

Lycos Asia Pte., a joint venture between Lycos Inc. and Singapore Telecommunications Ltd., said China's government awarded it a license to set up the country's first foreign-owned Internet site.

Lycos Asia will wholly own the Web site, or portal, company spokesman, Andy Pe, said. Previously, foreign companies had to join with Chinese partners for such ventures.

The site is expected to offer news, movie listings, on-line retailing, and other content tailored to the world's most-populous market, where Lycos Asia is seeking an edge against rivals such as Yahoo!