BT Group PLC on Monday said that it is not intending to make an offer for Stockport, England-based used-technology reseller musicMagpie PLC.

Last week Monday, musicMagpie confirmed it was in ‘early stage discussions’ with the telecommunications provider, and with asset manager Aurelius Group, with a deadline of December 18 to announce a firm intention to make an offer or walk away.

Talks are ‘ongoing and remain at a very early stage’, musicMagpie said last week, adding there was no certainty that an offer will be made.

musicMagpie shares fell 1.6% to 19.44 pence each on Monday afternoon in London, while BT shares were 0.3% higher at 122.65p each.

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