City Rumour: Warners Or Ubisoft To Buy SCi?
Or perhaps some unnamed Chinese company?
SCi Bosslady, Jane Cavanagh
A report in today’s Times claims that Ubisoft, Time Warner and an unnamed Chinese company have all placed bids to buy out veteran Britsoft company, the SCi Group, which owns Tomb Raider publisher, Eidos.
The Times claims that the original “extremely preliminary” move came from Ubisoft, which has now been followed by interest from Time Warner (currently a 10 per cent shareholder in SCi) and an unnamed Chinese company.
The report claims that, “SCi became vulnerable when the shares were heavily sold after a profit warning in the summer, when managers admitted that they had failed to predict the collapse in PlayStation 2 games sales following the introduction of its successor.”
It adds that, “the company also misjudged the popularity of the Nintendo Wii.”
SCi shares rose by 5 per cent on Friday amid speculation about further interest in the company, taking the stock to 349¾p and valuing the company at about £300 million.
Source: The Times
The Times claims that the original “extremely preliminary” move came from Ubisoft, which has now been followed by interest from Time Warner (currently a 10 per cent shareholder in SCi) and an unnamed Chinese company.
The report claims that, “SCi became vulnerable when the shares were heavily sold after a profit warning in the summer, when managers admitted that they had failed to predict the collapse in PlayStation 2 games sales following the introduction of its successor.”
It adds that, “the company also misjudged the popularity of the Nintendo Wii.”
SCi shares rose by 5 per cent on Friday amid speculation about further interest in the company, taking the stock to 349¾p and valuing the company at about £300 million.
Source: The Times
Companies:
SCi
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