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BUZZ-Monitise Plc: Down after co puts itself on the block
January 22, 2015 / 4:06 PM / 3 years ago

BUZZ-Monitise Plc: Down after co puts itself on the block

** British mobile banking software maker Monitise Plc’s shares fall 28.75 pct after co says it has put itself up for sale, blaming changes in its business model for its third revenue warning in a year

** Co says it hired Moelis & Co to conduct an “all encompassing” strategic review that included “corporate transactions and stock market listing options.”

** Shares fall to their lowest since May 2010, amid doubts about whether Monitise would find a buyer

** Heavy volumes in the stock with nearly 7 times its daily average traded. Stock is the biggest loser on the FTSE AIM index

** Exane BNP Paribas analyst Alexandre Faure says a sale would be difficult, but MasterCard, or more likely IBM , could be interested

** The company has tie-ups with MasterCard and IBM

** Co, which had lost more than 70 pct of its value this year up to Wednesday, says it now expected revenue of $136 mln-$151 mln for the year ending June 30, compared with $143.7 mln last year (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)

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