Ringtones group urges support for Spanish deal

UK ringtones specialist Monstermob today urged shareholders to stick by Spanish rival LaNetro Zed’s takeover offer, despite receiving a higher bid from Chinese mobile phone services group Linktone.

Linktone unveiled plans for an all-share bid at the end of last week, indicating it was prepared to pay $78m US (€59.4m) for Monstermob - an offer which could gazump Zed’s £34m (€50.4m) approach.

However, Monstermob issued a statement to shareholders today calling on them to back the Zed proposal to buy a majority share in the group at an extraordinary general meeting (EGM) this Friday.