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By Richa Naidu
Jan 22 (Reuters) - Monitise Plc, a British mobilebanking technology company, said it was reviewing its strategicoptions and warned that full-year revenue would be below itsexpectations, blaming its transition to a subscription-basedbusiness model.
Monitise is considering all options including a potentialsale and stock market listings under the review, which will beconducted by financial adviser Moelis & Co UK LLP.
Shares in Monitise fell as much as 22.4 percent minutesafter opening to their lowest since March 2010. The stock wasthe second-biggest loser on the London Stock Exchange.
"The market is telling us that investors very much doubtthat Monitise will find a proper buyer," said Exane BNP Paribasanalyst Alexandre Faure.
"IBM is going to be probably the most speculatedbuyer," Faure added, saying other potential bidders includedMasterCard Inc and other banking software vendors eyeingMonitise's high profile relationships, if not their technology.
The company provides payment solutions to 350 financialinstitutions, including Royal Bank of Scotland,MasterCard and Santander.
Monitise also said on Thursday that it expected a full-yearEBITDA loss of between $60 million and $76 million, wider thanmarket estimates.
Prior to the announcement, the company's 2015 EBITDA losswas forecast at 33.24 million pounds ($50.4 million), accordingto Thomson Reuters I/B/E/S.
However, the company said it still expected an EBITDA profitin 2016, helped by cost savings from the re-shaping of thebusiness.
Monitise, which warned on revenue twice last year citing thesame changes to its business model, has shed over 70 percent ofits market value since the start of 2014.
The company was also hit hard in September when its biggestcustomer, Visa Inc, revealed plans to divest its stake inMonitise and pursue its own mobile payment systems.
Monitise said it now expected full-year revenue to bebetween $136 million and $151 million, compared with itsprevious forecast of an "at least 25 percent growth" on itsrevenue of $143.7 million in the year ended June 30, 2014.
The company's AIM-listed shares recovered some of theirearly losses and were down 10 percent at 0923 GMT. ($1 = 0.6601 pounds) (Editing by Gopakumar Warrier)
