CVC consortium not planning to bid for Network International

(Sharecast News) - CVC Advisers and Francisco Partners Management said on Monday that they do not plan to make an offer for payments firm Network International. Network announced in mid-April that it had received a preliminary and conditional proposal from the consortium about a possible takeover offer.

However, later that month the firm said it had received a highly preliminary rival 400p a share cash offer from Canada's Brookfield Asset Management and last Friday, Network agreed to be taken over by Brookfield in a £2.2bn deal.