Internet company Mega, launched by Kim Dotcom, fails to list on New Zealand stock market

WELLINGTON, New Zealand – Internet file-storage company Mega Ltd., launched in 2013 by indicted entrepreneur Kim Dotcom, has failed in a bid to list on New Zealand’s stock market.

Mega announced plans last year to list through a manoeuvr known as a reverse takeover.

But TRS Investments, the intended vehicle for the listing, filed a notice with the market Wednesday saying Mega had failed to get approval from its shareholders for the takeover.

Dotcom previously founded the file-sharing site Megaupload, which became wildly popular before it was shut down by U.S. authorities in 2012.

U.S. prosecutors are seeking to extradite Dotcom from New Zealand on racketeering charges, accusing him of facilitating massive piracy of songs and movies.

Dotcom says he can’t be held responsible for those who used Megaupload for illegal downloading.