GameStop ‘no comment’ on GAME stores bid

GameStop has issued a ‘no comment’ on rumours it is amongst the bidders for GAME’s overseas business.

GAME is in the process of selling off its international operations – which includes stores in France, Spain, Scandinavia, Australia and the Czech Republic.

GameStop already has stores in Australia, France and Spain, so buying GAME would help protect its position in those territories. In fact, GAME is the market leading retailer in Spain, so will position GameStop better in that market.

A GameStop spokesperson told MCV: "We do not comment on market rumours or speculation."

GAME has reportedly issued a Friday deadline for the first round of bidding on its international bases.

Last week GAME said it would reach its banking covenant tests and reached an agreement with its six lenders that saw the terms of its loans relaxed.

The Group expects to make a loss of 18m for the year ending January 31st, 2012.

If GameStop was to swoop for GAME, it would be contrary to its current strategy in the UK, where it is focusing on digital and online retailing. It has already closed its stores in Northern Ireland and England.