(Alliance News) - BT Group PLC and Aurelius Investment Advisory Ltd said that they are not intending to make an offer for Stockport, England-based used-technology reseller musicMagpie PLC.
Last week Monday, musicMagpie confirmed it was in "early stage discussions" with telecommunications provider BT, and with asset manager Aurelius, with a deadline of December 18 to announce a firm intention to make an offer or walk away.
On Monday, BT announced that it does not intend to make such offer, while musicMagpie announced that Aurelius last week Friday had released a statement that it does not intend an offer either.
"The company continues to seek potential buyers for the entire issued and to be issued share capital of musicMagpie, and, as such, remains in an offer period," musicMagpie said.
musicMagpie shares fell 17% to 16.35 pence each on Monday afternoon in London, while BT shares were 0.5% higher at 122.80p each.
By Tom Budszus, Alliance News slot editor
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
BT (BT.A)
Musicmagpie (MMAG)