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Rovio consider stock market flotation

Rovio could be conducting business negotiations in the near future.

16 December 2011

International business negotiation could soon be taking place at the offices of Rovio, the company that created one of the world's most successful smartphone video games, Angry Birds.

This is because the Finnish firm explained to Reuters it is considering stock market flotation in Hong Kong.

Rovio marketing chief Peter Vesterbacka told the news agency he believes sales negotiations would be successful there as there a growing markets and more people with money.

Mr Vesterbacka was reported as stating in the Finnish weekly newspaper Tekniikka&Talous his ambition is to create a media giant akin to Disney.

Chief executive of the company Mikael Hed said his organisation has a medium-term goal of setting up a stock market listing in New York in two to three years' time.

The smartphone industry could be conducting more deals in the future, for instance Nokia was recently reported to be offloading its luxury brand Vertu in an effort to keep up with rivals such as Apple.

Posted by Ron Maverick

Sources: Reuters, December 16th

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