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A Spanish newspaper is reporting that Spanish Internet and cell phone content company LaNetro Zed has offered to buy InfoSpace (INSP) for $1.08 billion, according to the AP.

The story said a spokeswoman for InfoSpace declined to comment. An e-mailed request for comment from Tech Trader Daily has not received a response.

InfoSpace is now up $4.44 at $25.03, giving the company a market cap of about $818 million.

Source: InfoSpace: Spanish Internet Company Makes $1.08 Billion Takeover Bid