Scoot prepares to offload Loot

NEWS Scoot.com is finalising the sale of Loot after reporting an increase in first half loss related to last year's acquisition of the company. The £171.6m loss included a £108.4m goodwill write-off on the Loot purchase. Losses in the same quarter last year were £15.6m. First half revenue tripled to £20.5m Scoot is due to finalise the sale of Loot to the Daily Mail by 1 October. The struggling company is also seeking a buyer or partner before it reaches bankruptcy. Earlier this year Scoot rejected a takeover offer from Vivendi who were offering 15p a share. Scoot shares currently languish at 1p a share.