Concha in 'dialogue' with Ve Interactive after management buyout

Concha issued a statement to the market on Thursday, after a number of media reports emerged on Wednesday about Ve Interactive.

The AIM-traded company’s primary investment looked to be rescued from administration through a management buyout.

Ve Interactive, an advertising and marketing technology company was forced into administration earlier in the week after a creditor demand.

On Wednesday, it confirmed it had been bought out by a consortium of existing investors, including chief executive Morten Tonnesen, to “ensure the long-term security of the business”.

Concha said on Thursday that it was in active dialogue with Ve Interactive.

“[We] will provide a comprehensive update once it fully understands the implications of the events and circumstances which have occurred over the course of the last few days,” its board confirmed in its statement.