LONDON (Alliance News) - Immedia Group PLC saw its shares surge more than 26% Friday after it said it has signed a two-year contract with Telefonica UK Ltd to provide music to 467 O2 stores in the UK.
The company said the contract to provide digital music services also includes an agreement to supply equipment and maintenance services.
Immedia shares were one of the best-performing stocks on the London Main Market in early trading Friday, up 26% at 21.00 pence.
The digital music and entertainment channels provider said it is working with O2 on a number of "strategic marketing initiatives" based around music, including creating brand features for O2 Priority and O2 Tracks.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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