In Brief… – Vivendi invests $164.2 million in Scoot.com – Brief Article

In Brief… – Vivendi invests $164.2 million in Scoot.com – Brief Article – Statistical Data Included

British Internet directory company Scoot.com Plc (UK) was set this month to receive a funding package of o100 million (US164.2 million) from Vivendi, the French media conglomerate. Sources at both companies said the funding would be made in the 50-to-50 Scoot-Vivendi joint venture that would roll out Scoot’s services across Europe. The venture is slated to invest a total o200 million, using what sources call Vivendi’s massive sales force.

Scoot signed an agreement in November 1999 with Vivendi to expand Scoot’s presence in Continental Europe. The company now operates only in the UK. Scoot offers its online yellow pages directory as well as interactive voice in Great Britian and the Benelux countries.

Scoot’s new venture with Vivendi is slated to launch Scoot.com products during the next three years in France, Germany, Italy, Spain and Portugal. Vivendi owns 13 million shares equal to five percent of Scoot.

Industry sources said Scoot is not expected to make any profits before 2001.

Contact: Scoot.com can be reached at 44-1865-38-0192.

COPYRIGHT 2000 Simba Information, Inc.

COPYRIGHT 2003 Gale Group