30th Oct 2019 11:05
(Alliance News) - Matomy Media Group Ltd said Wednesday shareholders extended support for current negotiations to sell its stake in technology firm Team Internet AG, being undertaken by the firm until the end of November.
Shares on Matomy were 24% lower at 2.12 pence in London on Wednesday.
In September, advertising technology provider Matomy entered due diligence discussions with a potential buyer for its 90% stake in Team Internet as well as the 10% stake in the firm held by Rainmaker Investments GmbH.
In late October, the exclusivity period for the talks with the unnamed potential buyer was extended until November 1 as the due diligence and funding process continued.
On Wednesday, this exclusivity deadline was extended further to November 30.
By Ahren Lester; [email protected]
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