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InternetQ soars on possible buy-out by founder

InternetQ's shares have more than halved over the last year
InternetQ soars on possible buy-out by founder
The market is not keen at the moment on mobile device tech companies of Greek origin

A management buy-out could be on the cards at InternetQ (LON:INTQ), the digital content and mobile marketing company.

Panagiotis Dimitropoulos, the company's founder and chief executive officer, with the backing of private partnerships Toscafund Asset Management and Penta Capital, have approached the InternetQ board about a possible offer for all of the company's outstanding shares.

Discussions are at a preliminary stage and there was the usual caveat in the statement about there being no certainty that a bid would ensue.

Shares soared almost 60% to 130.5p on the news but are down almost 60% over the last year.

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InternetQ Timeline

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May 21 2015
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January 21 2015
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September 30 2014

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