''Mr. Pfeil will hold a press conference at noon today and say something about the current state concerning the decision'' by the potential buyer, said Ursula Noldes, who works with Pfeil. Gigabell has been in talks with Saunalahti Oyi of Finland, which has been renamed Jippii Group Oyi, for weeks.
Gigabell shares were suspended on the Neuer Markt ahead of the briefing. They fell 0.59 euro, or 7.4 percent, to 7.40 earlier, valuing the company at about 42 million euros. The stock has lost 73 percent after the company said it may go bust.
Jippii would have to assume as much as third of the troubled German company's debt if it completed the purchase, Pfeil said earlier this month. Gigabell declined to comment. Jippii couldn't be reached.