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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

SCi climbs on takeover talk

SCi Entertainment, the computer games company behind Lara Croft, has jumped nearly 15% to 23.25p on revived takeover speculation.

In April the company announced bid talks had come to nothing, but today US giant Time Warner revealed it had bought 5m shares - probably from entrepreneur Robert Tchenguiz - to take its stake to 16.13%.

At the same time it was announced that Kevin Tsujihara, a representative of Warner Brothers Entertaiment, had resigned from the SCi board yesterday.

Traders were speculating that the reason for both events could be that Time Warner might be planning to pounce on the UK business.

Overall the FTSE 100 is up 87.9 at 3949.3 despite an opening fall on Wall Street. The Dow Jones is off around 120 points after yet more disappointing housing figures, but the decline is not as bad as the futures had earlier suggested.

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