(Sharecast News) – MusicMagpie confirmed on Monday that it is in early-stage talks with both BT Group and private equity investor Aurelius Group about a possible bid for the company.
Responding to a media report, it said: “Discussions between the parties are ongoing and remain at a very early stage.
“Accordingly, there can be no certainty that any offer for the company will be made from either of the parties, nor as to the terms of any such offer.”
The company, which sells second-hand phones and other tech, advised shareholders to take no action and said a further announcement will be made as appropriate.
Under takeover rules, the two parties have until 1700 GMT on 18 December to either announce a firm intention to make an offer or walk away.
At 0810 GMT, the shares were up 33% at 25p.
