LONDON (Alliance News) - AIM-listed InternetQ PLC on Tuesday said it was approached by a trio of investors comprising hedge fund Toscafund Asset Management LLP, UK mid-market private equity investor Penta Capital LLP, and founder-chief executive Panagiotis Dimitropoulos about a possible offer for shares not already owned by the consortium.
"The board confirms that it has authorised the CEO to enter into discussions with Tosca Penta regarding a joint offer and that it has formed an independent committee to consider any offer," the mobile marketing and digital entertainment company said.
Discussions are at a "preliminary stage" with the consortium, with "Tosca Penta" undertaking due diligence on the company.
No firm offer has been made, and the approach was disclosed without the consent of Tosca Penta, InternetQ said.
Shares in InternetQ nearly doubled on the news to 159.00 pence Tuesday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.


(ShareCast News) - After investors failed to take heed to a quick rebuttal last week, mobile marketing group InternetQ has issued a detailed statement...


(ShareCast News) - Mobile marketing and digital entertainment solutions provider InternetQ strongly refuted allegations made in a blog post that calle...


(ShareCast News) - InternetQ posted a rise in revenue and pre-tax profit for the first nine months to the end of September on the back of strong momen...