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The Kelsey Report® Advisory

Scoot.com Sells Europe Stake to Vivendi for 1 Euro
Charles Laughlin , 8/6/2001

Issue: Move Averts Bankruptcy, but What's Next for Euro-Infomediary?

News: European "infomediary" Scoot.com PLC narrowly avoided insolvency last week by selling its 50 percent stake in Scoot NV (Europe) to Vivendi Universal for the nominal price of one euro (about 88 cents). Vivendi Universal owned the other 50 percent of Scoot Europe via a joint venture formed in January 2000. Scoot.com will continue as the exclusive operator of the online/voice directory service in the U.K. and Ireland, while Vivendi will acquire exclusive rights to operate the Scoot service in Belgium, the Netherlands, France and the remainder of Europe. Scoot.com will be given the right to expand to one European market of its choice (which it must choose within six months), with rights to the remaining markets going to Vivendi.

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