I'd post this at GTIS, but I don't think anyone is listening. Interesting from a consolidation perspective:
game-online.com
Eidos deal to be announced at ECTS
Infogrames is to announce the buy-out of Eidos at ECTS this weekend, according to Web reports. In addition, Eidos will post a substantial loss tomorrow
News of Infogrames preparing to announce a deal to buy-out Eidos comes apparently from "a top-ten Eidos senior executive", although CVG's contacts would not confirm the nationality of the source. Eidos, as ever, was saying nothing on the record.
"We're in a 'no comment' period at the moment," said Cherif Rifaat, Eidos' head of strategic development. "All we can do is point you to the statement we issued to the stock exchange on August 15. An announcement will be made when appropriate."
Infogrames could not be reached for comment at the time of writing.
Financially, Eidos is looking increasingly shaky. The publisher will post losses to the stock exchange tomorrow for the first quarter 2001. "Eidos will issue Q1 results tomorrow in line within expectation, but remember there's no market forecast out there," said a financial insider. "Losses are in-line with the first quarter last year." Eidos' loss for the same period 12 months ago was £18.4 million.
Confirmation or a denouncement of the deal should emerge in the next 72 hours. You'll see it here first.
Patrick Garratt
Wednesday, 30 August 2000 |
