LONDON (Brand Republic) - Online directory Scoot.com has appointed investment bank Merrill Lynch to conduct a strategic review of its operations, which is being taken as a clear signal that the company is putting itself up for sale.
The news came after it reported a loss of £46.4m for the 15 months ending December 31.
The move saw its stock move slightly in early trading rising 1.75p, or 8.64%, to 22p.
The company released the 15-month figures to reflect a change in its financial year and compared them with the 12 months ending September 30 1999, when its loss was £19.9m. Revenues were £24.1m, compared with £15.4m for the earlier period.
Scoot, which is 25% owned by Vivendi Universal, said the review should be completed during the second quarter of 2001.
Vivendi has been consistently linked to the company as a possible buyer, but Scoot made no indication with whom it might be holding talks. Last year, it denied being in talks with Vivendi although speculation refused to die and talk of another bid emerged in January.
www.scoot.com