Monitise ends plan to sell content biz
01 June 2016 | 5752 views | 3
Shares in Monitise have taken a dive after the mobile banking firm revealed it has ended talks to offload its marketing content business Markco Media.
In March Monitise revealed that it was in "very early stage" discussions on the disposal of Markco Media, the parent company of coupon and deal site MyVoucherCodes.co.uk, which was acquired in 2014 in a deal that could rise to £55 million.
News of the potential sell off sent shares in the troubled UK outfit - which has yet to turn a profit in its 13 years - soaring nearly 40%.
But shares went south again on Tuesday, dropping around eight per cent after a statement said that the sale discussions have ended.
"The Content business is performing strongly and, together with the expected growth prospects for the Content business, Monitise has concluded that greater shareholder value can be delivered by retaining the Content business within the Group," says Monitise.