Bid for Mandriva fails
The external bid for financially troubled Mandriva has been blocked by a minority shareholder. The news was announced by Mandriva COO Jean-Manuel Croset in a brief blog posting. Croset says the company's financial situation is though "far better than expected" and this will allow the company until the middle of February to find a new solution to its problems.
Croset says Mandriva is now receiving assistance from the Paris Region Economic Development Agency, an organisation set up to create and safeguard jobs, improve the economic attractiveness and support areas affected by economic changes, in the Paris area. He does not reveal in what form this help is being provided.
The Linux distributor has apparently been battling off bankruptcy since the start of the month, with the decision being delayed or postponed as the company tries to get agreement from all its shareholders on plans to stay operating.