News blog
Network Data
- BY: Andrew Hore |
- POSTED: 05/05/2009 |
Network Data’s plans to sell its mortgage broking network to Lighthouse Group have been scuppered by its bankers.
Network Data shares have been suspended at 3.375p, down 0.125p on the day, which values the company at £950,000.
Lighthouse’s bid for the mortgage broking network had been accepted by Network Data’s management but the bankers had to provide their consent. This did not happen in time and the offer was withdrawn.
Network Data is short of cash and that is why the shares have been suspended. An attempt to sell the company’s head office property fell through. The company says that it will consider other ways of moving ahead.
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