BT Group not planning to make offer for MusicMagpie
MusicMagpie
6.25p
16:55 29/04/24
-10.71%
-0.75p
BT Group said on Monday that it is not planning to make an offer for MusicMagpie.
BT Group
104.50p
17:05 29/04/24
-0.48%
-0.50p
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1,838.12
16:44 29/04/24
1.00%
18.18
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3,887.45
16:44 29/04/24
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-22.80
MusicMagpie announced last week that it was in early-stage talks with both BT Group and private equity firm Aurelius Group about a possible bid for the company.
MusicMagpie sells second-hand phones and other tech.
Under takeover rules, BT and Aurelius had until 18 December to either announce a firm intention to make an offer or walk away.
At 1350 GMT, MusicMagpie shares were down 10.1% at 17.75p.