LONDON (Alliance News) - Infinity Energy SA on Tuesday said it is no longer in talks to acquire 50% interests in nine UK petroleum exploration and development licenses in South Wales, meaning its shares are set to resume trading following a period of suspension due to the potential reverse takeover.
The company had been in talks with Eden Energy Ltd, with its shares suspended on October 15 under stock exchange rules relating to reverse takeovers.
"The company today announces that these discussions have been terminated, and the acquisition of the licences from Eden Energy will now no longer take place," Infinity said.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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