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BUZZ-Monitise Plc: Down after co puts itself on the block

Thu, 22nd Jan 2015 16:03

** British mobile banking software maker Monitise Plc's shares fall 28.75 pct after co says it has put itselfup for sale, blaming changes in its business model for its thirdrevenue warning in a year

** Co says it hired Moelis & Co to conduct an "allencompassing" strategic review that included "corporatetransactions and stock market listing options."

** Shares fall to their lowest since May 2010, amid doubtsabout whether Monitise would find a buyer

** Heavy volumes in the stock with nearly 7 times its dailyaverage traded. Stock is the biggest loser on the FTSE AIM index

** Exane BNP Paribas analyst Alexandre Faure says a salewould be difficult, but MasterCard, or more likely IBM, could be interested

** The company has tie-ups with MasterCard and IBM

** Co, which had lost more than 70 pct of its value thisyear up to Wednesday, says it now expected revenue of $136mln-$151 mln for the year ending June 30, compared with $143.7mln last year (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)


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