Financial Services Industry
Industry: Email Alert RSS FeedSecond time lucky for iTouch takeover.
Investors Chronicle, May, 2005
Just a few months after an aborted takeover approach from rival MonsterMob, mobile content provider iTouch is the target of yet another bid. This time the deal looks likely to go ahead - the GBP180m offer from Japanese content specialist For-side.com has received the backing of over half of shareholders, including the largest single holder, Independent News & Media. The shares jumped 24 per cent on the news.
For-side.com has been a strategic investor in iTouch for some time, so an approach wasn't surprising. The price looks tempting but, for now, await developments.
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