Interactive Investor not planning to bid for Share

9th May 2019 09:37

(Sharecast News) - Investment platform Interactive Investor has said it does not plan to make an offer for Share Plc, the owner of The Share Centre.Interactive said it had been in early stage discussions but has decided not to proceed with an offer.Share, which confirmed last week that it had received a preliminary and unsolicited approach from Interactive Investor, said in a statement on Thursday: "The board understands that Interactive Investor is withdrawing for its own reasons and continues to be engaged with the acquisition of Alliance Trust PLC's subsidiary Alliance Trust Savings, which was announced on 22 October 2018."As set out in the announcement made by Interactive Investor earlier today, discussions may be resumed, inter alia, with the approval of the board."Share stock was down 6.9% at 33p at 1030 BST.