21st Aug 2019 16:18
(Alliance News) - Matomy Media Group Ltd on Wednesday said that Rainmaker Investments GmbH has pulled out of discussions to acquire its shares in Team Internet AG.
Media company Matomy owns a 90% stake in technology company Team Internet and back in April agreed to sell its entire holding in the company to Team Internet minority shareholder Rainmaker for USD36.0 million. The funds were going to be used to make early payments to Matomy bondholders.
Matomy will now negotiate with other potential buyers but said that there is no certainty that they will be successful.
Shares in Matomy were up 16% at 2.10 pence each in London on Wednesday afternoon.
Related Shares:
MTMY.L