musicMagpie PLC (AIM:MMAG), the electronic devices rebuyer, jumped by a third in market value on Monday after it confirmed BT Group PLC (LSE:BT.A) and private equity firm Aurelius Group have expressed interest in a takeover of the company.
Talks are at an early stage and a tangible offer is yet to be made, with further announcements anticipated ahead of the 18 December deadline for the deal.
It said there can be no certainty that any offer will be made and advised shareholders not to any action at this time.
Last week, Aurelius Group officially announced the acquisition of The Body Shop in a cut-price deal valuing the British high-street beauty products chain at £207 million – a bargain, considering the previous owner paid upwards of £800 million six years earlier.
BT Group said last month it is branching into household electricals, with kitchen appliances like kettles and mini-fridges to be sold by the telecom group in the new year.
Shares in musicMagpie are valued at around 25p on Monday, trading flat since the start of the year.