Yes, it is true! Jonathan Zamkoff, producer of Mercenaries 2 has revealed to Eurogamer that there will be a Mercenaries 3 and it could have an underwater theme for the game play.
Jonathan Zamkoff told Eurogamer, “If I have anything to do with it (Merc 3), there will be. We probably would be looking at underwater gameplay – submarines, scuba tanks and underwater action. I think it would be really cool in Mercs to do some more submersible stuff, take an underwater vehicle and plant some C4 at the base of an oilrig.”
Not only that, Jonathan Zamkoff also mentioned that there will be an expanding co-operative multiplayer to allow for four, eight or even sixteen players. He also spoke about the demo versions of Mercenaries 3 on the Xbox Live and the Playstation Network. He said that they are deciding about it, but have a pretty tight window.
Mercenaries 2 is expected to release soon on the PS2, PS3, Xbox 360 and the PC. There were speculations that Mercenaries would also hit the handhelds but there is no word from Pandemic.