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Business and Economy

The Pirate Bay Purchase In Hot Water

Published onsdag 7 oktober 2009 kl 15.31

Global Gaming Factory has admitted that its plans to buy Swedish file-sharing site The Pirate Bay may not go through. After suspicions of insider trading, board member desertions, and finally bankruptcy, the company played down expectations for the buy in a recent press release.

"In the present situation, GGF cannot say whether the purchase will be concluded," the press release held.

Global Gaming Factory's potential buy of the legally-challenged Pirate Bay for 8.5 million US dollars was big news when it came out in early summer. But the company has suffered a number of setbacks since then, although CEO Hans Pandeya continually pronounced that the transaction would be completed.

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