Monitise share price plummets for second day despite attracting “a number” of potential buyers

Monitise's share price has tanked for a second day running, despite confirming that it had received “a number of expressions of interest” in buying the business the board said this afternoon a day after the mobile banking firm was put up for sale. 

 

Monitise, which also issued its third warning on revenues in a year yesterday , said there was still a range of options on the table, including a possible merger with a third party, as well as a straightforward sale. 

 

However the Aim-listed firm added that discussions were “at a highly preliminary stage and there can be no certainty that any transaction will result”.

 

Yesterday Monitise's share price plummeted to a five-year low, but the tumble was initially halted by today's confirmation of interest. By the afternoon, however, its share price was down more than five per cent. 

 

The British business said it was considering a sale as part of a strategic review, prompted by “recent share price weakness, shareholder feedback and industry developments”.

 

The share price has struggled since September when Visa Inc revealed plans to wind down its stake in the firm.