Amazon set to take control of Lovefilm
20 Sep 10 -

US online retailer Amazon is set to increase its stake in Lovefilm, the DVD retailer and online streaming service, to 100%. Amazon currently owns 42% of the company, which is run by chief executive Simon Calver, and is set to acquire the remaining shares it currently does not own.

The move values Lovefilm at around 200m (240m). This comes after Lovefilm was considering a stock market flotation following its hire of investment bank Jeffries to assess its strategic options.

Lovefilm, which has more than 1.4 million subscribers, operates in a raft of European countries including the UK, Germany, Sweden, Norway and Denmark.