Neonet abandons takeover talks

Neonet abandons takeover talks

Swedish agency broker and systems supplier Neonet has pulled out of take-over talks with an un-named counterparty and says that no offer has been received for the company.

Neonet first confirmed that it was in exploratory discussions with a third party earlier this month. The confirmation came a day after German newspaper Handelsblatt reported that Deutsche Börse was lining up a bid.

The German stock market operator has steadfastly declined to comment on the report, which followed the abandonment of its recent merger talks with Nyse Euronext.

In a brief statement released to the Stock Exchange late Friday, the Swedish group says: "Neonet has decided not to proceed with the previously announced discussions with a counterparty concerning possible forms of cooperation."

Shares in Neonet surged on the early rumours, but have since declined and now show a 66% drop year on year.

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