Reports of CitiKey's death may have been greatly exaggerated

A week after it filed for bankruptcy, Odin, Swedish parent company of CitiKey, is keeping the website alive in an attempt to restructure the company over the next few weeks.

Although CitiKey refused to comment on talks held with 15 potential buyers, the company confirmed it was continuing to update its Stockholm, Paris and Berlin websites in a bid to attract a suitor. The company provides content for mobile and handheld PDA users. CitiKey is confident of a rescue package, according to a company press release this morning and is hoping to secure a buy-out deal higher than the rejected $450,000 valuation received from lead and venture capital investor Crescendo.