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Talks off at PLUS

Article Date:  Oct 19 2007

Share market operator PLUS Markets Group has ended talks about a possible deal with another group.

The AIM-quoted company, which runs the PLUS share market for young companies and also offers an alternative platform for many London Stock Exchange-traded securities, recently signed heads of agreement with an unnamed third party. This prompted speculation about a possible link with Project Turquoise, the trading facility launched by several banks, but PLUS now says the discussions 'have been terminated'.

Headed by ex-AIM boss Simon Brickles, PLUS says it has has decided the transaction, as envisaged, 'would not deliver sufficient benefits to the company's existing shareholders'. Suspended during the discussions, PLUS shares, which hit 38.75p last year, have now resumed trading and are 2.5p off at 25.5p, valuing the company at £80 million.

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