Prospective buyer of The Pirate Bay finds new exchange

But questions about the acquisition are still unanswered

The stock of prospective Global Gaming Factory X (GGF) will from Wednesday be traded on Mangoldlistan, a Swedish exchange run by a securities brokerage company.

But GGF's new home, on an exchange that lists only seven companies, hasn't answered any of the questions about its proposed acquisition of file-sharing site The Pirate Bay.

The central issue is whether GGF has the funds to acquire The Pirate Bay. It said it would pay 60 million Swedish kronor (US$8.64 million) in cash for the site.

GGF declined to comment on the listing or the status of the proposed Pirate Bay acquisition, said Janne Lundqvist, music business relations manager at GGF.

The company was delisted from the AktieTorget exchange on Sept. 9, because it lacked the ability to inform its stockholders about the proposed deal in a correct, relevant and credible way, the stock exchange said.

Irregularities were related to the way GGF informed the market about the funding of The Pirate Bay acquisition, possible other bids and negotiations with an unnamed global company regarding music rights, the exchange said.

On Aug. 27, GGF's stockholders approved the acquisition.

The money for the deal was supposed to come from about 40 people, according to GGF CEO Hans Pandeya, who declined to elaborate on details.

If the investor money wasn't enough, Pandeya would use his shares in GGF to cover the difference, he said.

On Wednesday Pandeya wasn't available for interviews, according to Lundqvist. "He's too busy," said Lundqvist.

Pandeya has seen his fair share of trouble lately. Recently, his boat, BMW and Harley Davidson were confiscated because of an outstanding tax debt.

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags file sharingP2Ppiracythe 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

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.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?