Monitise is keeping hold of its content business after all

Lynsey Barber
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Monitise is hanging on to the Myvouchercodes website (Source: Getty)

Monitise has cancelled a potential sale of its content business which includes the MyVoucherCodes website, sending shares diving as much as nine per cent in early trading on Tuesday morning.

The firm first revealed talks were taking place in early March for the sale of Markco Media, sending shares soaring more than 40 per cent. It today said those discussions had ceased.

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The struggling digital payments firm has embarked on efforts to restructure its business with a new chief executive, Lee Cameron, and a chief operating officer, Gavin James. Cameron said in January he believes the business will break even in the second half of the year.

The firms today said it believes the content business can deliver greater value to shareholders as part of Monitise and was performing strongly.

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It added that it will "continue to regularly evaluate all assets within the Monitise group to ensure that long-term shareholder value is maximised".

Monitise shares have lost as much as 89 per cent of their value over the last year and were down more than six per cent at pixel time to 2.95 pence per share.

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