British online directory Scoot.com, responding to a newspaper report that it had secured new funding, said today it had not yet finalised its ongoing strategic review.
The loss-making group said it expected to complete its review by the end of the month, adding only it was examining a range of options aimed at boosting its financial position.
Scoot said in a statement a further announcement would be made in due course.
Shares in the firm, which has underperformed the media sector by almost 90 per cent in the last 12 months, soared after the Financial Timessaid a group of private investors had agreed to pump £25 million sterling (euro 38 million) into the business.
Scoot, once the darling of the Internet boom, saw its shares shed a quarter of their value earlier this month after media-giant Vivendi Universal pulled out of talks over a possible bid.
In April, Scoot had said the French group's offer to buy Scoot for up to 15p a share was "wholly inadequate".
Scoot was established as Freepages in 1995 and connects buyers to sellers in Britain, France, Belgium and the Netherlands through wired and wireless phone, interactive TV and the Internet.