Dotcom’s Mega fails to list in NZ

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Published: Wednesday 6th May 2015 by The News Editor

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Internet file-storage company Mega, launched in 2013 by wanted entrepreneur Kim Dotcom, has failed in a bid to list on New Zealand’s stock market.

Mega announced plans last year to list through a manoeuvre known as a reverse takeover.

But TRS Investments, the intended vehicle for the listing, filed a notice with the market saying Mega failed to get approval from its shareholders for the takeover.

Dotcom previously founded file-sharing site Megaupload, which became wildly popular before it was shut down by US authorities in 2012.

US prosecutors are seeking to extradite Dotcom from New Zealand on racketeering charges, accusing him of facilitating massive piracy of songs and movies.

Dotcom says he cannot be held responsible for those who used Megaupload for illegal downloading.

Published: Wednesday 6th May 2015 by The News Editor

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