27th Nov 2023 13:49
(Alliance News) - BT Group PLC on Monday said that it is 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 the telecommunications provider, and with asset manager Aurelius Group, with a deadline of December 18 to announce a firm intention to make an offer or walk away.
Talks are "ongoing and remain at a very early stage", musicMagpie said last week, adding there was no certainty that an offer will be made.
musicMagpie shares fell 1.6% to 19.44 pence each on Monday afternoon in London, while BT shares were 0.3% higher at 122.65p each.
By Tom Budszus, Alliance News slot editor
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