Monstermob approached

James Middleton

August 8, 2006

1 Min Read
Monstermob approached

UK-based mobile content provider, Monstermob, has confirmed that it has received an approach for the company. The news was welcomed by investors with shares in the firm climbing £0.11 to £0.67 on Tuesday morning, bringing some relief to stockholders, which have received three profit warnings from Monstermob this year.

“The board wishes to stress that discussions are at a preliminary stage, the proposals being considered are subject to a number of material pre conditions and there is no certainty that any offer will be made for the company,” a statement to the Stock Exchange said.

After struggling against the tide in the UK, where ringtone sales are dwindling, the company refocused its efforts on Asia, particularly China. However, the company has faces more problems overseas.

In Malaysia, Monstermob subsidiary UnrealMind, has had three of its SMS-based services suspended for three months for allegedly breaching industry guidelines, according to reports.

One of the services that has been frozen is a football competition which the country’s regulator, the Malaysian Communications and Multimedia Commission (MCMC), alleges fails to comply with SMS regulations or competition rules. UnrealMind has been forced to refund subscribers to the service.

About the Author(s)

James Middleton

James Middleton is managing editor of | Follow him @telecomsjames

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