GAME Group shares drop by 15%

With news emerging that GAME Group won’t be stocking Electronic Arts’ key March releases nor Mario Party 9, the company’s share price has fallen by 15 per cent.

It begun the day at 5.57p, briefly climbing to 5.98p before plummeting to as low as 4.89p. Shares now remain at 5.00p, equating to a drop in value of 15 per cent over the past 24 hours. In comparison, back in May 2008 the company’s shares were trading at a far healthier 296.75p.

Key lenders, including Royal Bank of Scotland, Barclays, HSBC, Caixa, Allied Irish Bank and Bank of Ireland, are pressing for GAME to sell its international operations, The Guardian report.

It has also emerged that, according to MCV, US games retail specialist GameStop are set to takeover the business, yet does not wish to acquire the company’s Australian stores.

[Thanks MCV]

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