MusicMagpie has confirmed it is in “early-stage discussions” over a possible sale with BT and private equity investor Auerlius Group, which bought The Body Shop last week.
In a statement today, the refurbished tech retailer said discussions between the two parties are ongoing and remain at a very early stage.
It added: “Accordingly, there can be no certainty that any offer for the company will be made from either of the parties, nor as to the terms of any such offer. Accordingly, shareholders are advised to take no action at this time.”
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The retailer is on the hunt for a buyer just two years after going public, following sluggish US growth and a falling share price.
Last week Aurelius completed the acquisition The Body Shop at the knock down price of £207m after Brazilian cosmetics giant Natura bought the business for over £1bn back in 2017.
The Body Shop CEO Ian Bickley said the sale was a “truly historic moment” for the health and beauty retailer and would allow it to “continue building the relevancy of this global brand for future generations”.
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