Amid news that Swedish company Net Entertainment had made a run at acquiring rival Boss Media, the Finansinspektionen has temporarily suspended trading of both companies’ shares.
Boss Media CEO Michael Hallen issued an announcement:
“As a consequenece of today’s trading halt in the Boss Media share, effected on an initiative from Finansinspektionen, the company wish (sic) to announce the following:
"One of the company's larger shareholders was...approached by an interested party announcing its interest to acquire all shares in Boss Media, subject to the larger shareholder's acceptance. During the course of Wednesday afternoon, the larger shareholder declined the offer and has subsequently informed the board and Boss Media management."
Before trading was suspended, stocks of Net Entertainment rose nearly 6 percent, prompting the share trading suspension amid fears of a news leak.
The Finansinspektionen is expected to lift the trade ban later today.
