BT Group not planning to make offer for MusicMagpie

BT Group said on Monday that it is not planning to make an offer for MusicMagpie.

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.