Stock exchange keeps Pirate Bay buyers under close watch

Delisting is threatened if Global Gaming Factory X is involved in illegal activities

Internet cafe operator Global Gaming Factory X will be delisted from a Swedish stock exchange if it engages in illegal activities involving the file-sharing site The Pirate Bay, which it plans to acquire, a stock exchange official has warned.

Companies that are involved in illegal activities aren't allowed to be listed on AktieTorget, the stock exchange where GGF currently is listed, according to Peter Gönczi, head of market surveillance at the stock exchange.

Global Gaming Factory X has announced it plans to acquire The Pirate Bay for 60 million Swedish kronor (US$7.8 million). At least half of the 60 million kronor for The Pirate Bay will also be paid in cash, GGF said. The deal is expected to be final in August, subject to a number of closing conditions. The company has to obtain financing, which it plans to do by issuing new shares.

It will be up to the courts to decide if what GGF eventually does with The Pirate Bay is legal, Gönczi said. The legal problems of Fredrik Neij, Gottfrid Svartholm Warg, Peter Sunde and Carl Lundström, who ran The Pirate Bay, are not relevant to the situation with GGF, he said. GGF has said it wants to launch new business models that allow for compensation to content providers and copyright owners. So the company has the benefit of the doubt for now, he said.

However, GGF is also being investigated on suspicions of insider trading in the weeks leading up to the acquisition announcement. Trading was halted on June 22, and was then started again after GGF had said it planned to buy The Pirate Buy. Gönczi declined to comment further regarding the investigation.

Global Gaming Factory X stock has been moved to AktieTorget's so-called Observation List, which informs potential buyers that something special has happened that needs to be taken into account before buying shares, according to Gönczi.

GGF did not respond to a request for comment.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags the pirate bay

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Mikael Ricknäs

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?