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Share blow for Moneyextra

The future of The Exchange&#39s parent company Moneyextra has been thrown into uncertainty after a potential major shareholder pulled out of an option to buy 22 per cent of its shares.

Deutsche Bank had taken an option to buy the stake, which amounts to more than 48 million shares, in June.

But after a three-month window, the bank announced on October 3 that it was no longer interested in buying the shares.

At the beginning of this week, shares in Moneyextra were trading at an all-time low of 30p, down from a high of 385p at the end of last year.

Industry insiders say The Exchange has been looking for a buyer for two months. In September, Moneyextra announced it was undertaking a strategic review of acquisitions and partnerships amid speculation that the business might be broken up and sold.

Misys, owner of M-Link, has been linked consistently with a possible takeover of The Exchange. Other speculation suggests a possible takeover by a pool of product providers.

Moneyextra communications director James Garthwaite says: “Deutsche Bank&#39s decision does not affect us at all. Our key objective is looking at acquisitions and partnerships, not looking for a buyer.”

A Deutsche Bank spokesperson says: “Deutsche Bank&#39s decision is unrelated to the company itself. We had no intention of holding a strategic role in its development.”

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