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05 Aug 2019 | 07:48

Matomy Media mulls alternative deals amid little progress on Team Internet sale

Matomy Media Group said it was considering alternative deals after no progress was made on a potential sale of its stake in Team Internet.

No significant progress had been made over the past four weeks in negotiations with a potential purchaser, which the company had not identified.

'The company estimates that it is unlikely that an agreement with this potential purchaser will be reached,' it added.

Matomy Media said that it was therefore pursuing 'other potential alternatives' with other potential purchasers of Team Internet.

'Such negotiations have not yet resulted in a binding offer and there is no certainty that such negotiations will result in such an offer or in a binding agreement,' the company said.

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