Date: 25 Jan 2001 10:04:31
LONDON (AFX) - Shares in on-line directory service Scoot.com PLC
sharply in midmorning trade as some 2.5 pct of the company changed
hands in the
market in what traders described as a "derivatives trade."
Although dealers were keen to play down the significance of the
saying it was made merely to protect positions in the derivative
news inevitably reignited hopes of a bid for the beleaguered group.
According to The Guardian newspaper, Scoot boss Robert Bonnier has
meetings with France's Vivendi Universal, which already owns a 22.4
pct stake in
the UK group. The paper reported that a deal has been struck and that
will launch a 125 pence a share bid later this week.
But the Daily Mail named Hutchison Telecom, which is owned by the
Shing-controlled Hutchison Telecom, as the likely predator, saying the
Kong-based group will bid some 150 pence a share.
At 10.02 am, Scoot.com shares were trading 4-1/2 pence higher at
with some 18.49 mln shares changing hands."
I think this is what the fuss is about.