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UK's musicMagpie in talks with BT Group-Aurelius on possible offer for sale

Reuters
Updated ·1-min read

(Reuters) - musicMagpie said on Monday it was in early-stage talks with BT Group and Aurelius Group regarding a possible offer to buy the British online retailer of used smartphones and electronic products.

The seller of second-hand DVDs and computer games said discussions on a possible offer were ongoing and remained at a "very early stage".

The Stockport-headquartered company was founded by CEO Steve Oliver and Walter Gleeson in 2007 and got listed on the London Stock Exchange four year later.

As of Friday's close, musicMagpie had a market capitalisation of a little over 20 million pounds ($24.9 million).

($1 = 0.8025 pounds)

(This story has been corrected to fix spelling errors in the headline)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita Bhattacharjee and Dhanya Ann Thoppil)