Shares in one of Europe’s largest gaming companies plunged the most on record after a partnership deal worth more than $2 billion collapsed, prompting a slashed profit forecast for the year.
Sweden’s Embracer Group AB dropped as much as 41% on Wednesday after announcing that a “groundbreaking strategic partnership” over a period of six years would not materialize. The company said it had received “a negative outcome” from the unnamed counterparty late on Tuesday night, prior to the publication of fourth quarter results.
