BT backs out of musicMagpie takeover talks
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Shares in musicMagpie tumbled around 14% in Monday afternoon trading after the news, although the firm confirmed it continues to seek possible buyers for the group. “Accordingly, shareholders are advised to take no action at this time.” MusicMagpie had seen its stock jump higher last week when it revealed “early stage” takeover discussions with BT and Aurelius. Stockport-based musicMagpie has seen its shares slump since a stock market flotation two-and-a-half years ago, which valued the group at more than £200 million.
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