BOOM LN - UNCOOKED ALERT: Audioboom Group said to ... - Part 5
Wednesday, 20 April 2022, 3:19 pm
Audioboom, the Aim-listed podcasting company, is said to have attracted interest from one of France's largest media groups.
People following the situation have heard rumours Vivendi has been holding talks with Aaqua, the Dutch social networking group, about creating a joint venture that could be used to launch a fresh takeover bid for Audioboom, the London-listed podcasting company.
Aaqua is one of the largest shareholders in Audioboom and is backed by All Active Asset Capital (AAA), which last year tried to buy Audioboom for £12.00 a share.
However, it's not clear how far the talks between Aaqua and Vivendi have progressed and whether they have submitted a formal offer for Audioboom.
Audioboom's chairman, Michael Tobin, has consistently been buying shares in the company since the beginning of the year, suggesting there were no formal talks taking place with potential acquirers.
Recently, though, Mr Tobin hasn't purchased any Audioboom shares, adding weight to speculation the company may have received a formal approach.
According to the regulatory news service Tobin's last purchase of Audioboom shares was on March 25 when he bought 815 ordinary shares in at a price of £18.30 a share, taking the size of his stake in the business to 4.2pc.
Readers should be aware Betaville first reported takeover interest from in Audioboom in December last year, with people following the situation suggesting a large US technology company was circling was business.
Those reports were subsequently followed up by Sky News, which claimed Amazon was working with JP Morgan on a possible offer for Audioboom.
Sky News also claimed Spotify was also looking at Audioboom.
Since Betaville's first report Audioboom's shares have risen around 60pc, so readers should be aware some of the takeover speculation may already be priced into the stock.
Aaqua and Vivendi both declined to comment when contacted by Betaville.