BT Group not planning to make 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.