Chinese mobile value-added services company Linktone (LTON) has issued a press release saying it expects to make a firm offer to acquire all of the outstanding share capital of MonsterMob Group upon fulfillment of certain conditions.

MonsterMob is a U.K.-based provider of wireless value-added services listed on the AIM market in London. MonsterMob offers mobile content including video on demand, interactive communities, real-music ring tones, high resolution personalizable graphics and java games to service providers, retailers and handset distributors.

Linktone has stumbled in the China market over the last few years as its business aspirations have evaporated with new consumer-friendly regulations that have halted the company's profit-making activities in the country. Now it hopes to take its dubious business acumen earned in China and apply it to a global scale.

MonsterMob is holding a shareholders' meeting on February 23 to determine whether to accept another acquisition offer from a third party. If the shareholders do not approve the third party offer, and subject to the completion of further confirmatory due diligence on MonsterMob, Linktone's offer would be for all of the outstanding MonsterMob Ordinary Shares at the fixed exchange rate of 0.3028 new Linktone American Depositary Shares (ADSs) for each MonsterMob Ordinary Share.

Such an offer, if extended, will be subject to approval by Linktone's shareholders, among other closing conditions.


Please enter your comment!
Please enter your name here