Monstermob, the UK-based mobile content biggie which has been going through some major troubles of late, has seen its shares rise today on the London stock exchange, after rumors of takeover, or at least bids, reports FT. Its woes have resulted in the share price losing 90 per cent of its value in the past six months.
Stock market rumors suggested the bid was led by Martin Higginson, former CEO, who was replaced in June by Niccolo de Masi, the former JPMorgan banker who joined Monstermob as MD in 2005. However, FT reports that the approach is believed to come from another party, and it is “unclear whether it was serious or opportunistic”.
Among other troubles, like a weakening UK market, and Chinese regulations, FT says that in July it was forced to renegotiate payments to vendors of two of its Chinese businesses, with investors worried about a possible dilution of shareholdings.
Related:
— Monstermob Shares Drop By Half After Chinese Warnings; Higginson’s Revenge
— Monstermob Founder-CEO Gets Sack For รข
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