Feeds

Pirate Bay saviour faces more trouble

Deal hangs on a thread as GGF shareholders mull takeover

The Power of One Infographic

Global Gaming Factory X (GGF) could be delisted from the Swedish stock exchange.

AktieTorget, the Swedish exchange, suspended trading in the company on 21 August. It has now called in a disciplinary committee to consider having GGF's listing removed from the exchange altogether.

The move comes on the same day that GGF is due to meet with its shareholders to decide whether to proceed with acquiring BitTorrent tracker site The Pirate Bay.

The exchange has little faith in a deal being reached, however. AktieTorget officials met with GGF bosses on Wednesday when the firm admitted that it was unable to disclose the amount needed to buy TPB.

"AktieTorget concludes that it [GGF] can not be judged to have the ability to inform the correct, relevant and reliable manner," confirmed the Swedish stock exchange's veep Peter Gönczi in a statement (in Swedish) today.

"If such a capability is missing, there is no scope for an efficient trading."

AktieTorget halted trading in GGF last week after the company failed to provide sufficient details about how it planned to fund its proposed buyout of TPB.

Until the disciplinary committee reaches a decision about the company's fate - which could take several weeks - GGF trading will remain suspended, said Gönczi.

GGF today hit out against accusations that the company's bid to buy TPB was merely a "bluff" to increase its stock price.

CEO Hans Pandeya said (in Swedish) the "allegation" was "completely false," before adding that such claims had severely unsettled GGF's investors.

GGF has courted much controversy since offering to buy TPB for 60m Swedish kronor (£7.7m) in June this year. Later today shareholders in the firm will give the proposed acquisition the kiss of life... or death. ®

Mobile application security vulnerability report

More from The Register

next story
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.