(Bloomberg) -- Allfunds Group Plc has abandoned discussions over a potential sale of the European fund distribution platform, people with knowledge of the...
-- Allfunds Group Plc has abandoned discussions over a potential sale of the European fund distribution platform, people with knowledge of the matter said.Amsterdam-listed Allfunds received multiple expressions of interest about a deal but its board decided not to proceed with a sale, according to the people, who asked not to be identified discussing confidential information.Allfunds opted to shelve the process after the offers it received didn’t fully reflect its growth prospects, they said.
Allfunds is roughly 49% owned by private equity firm Hellman & Friedman and French lender BNP Paribas SA. Hellman & Friedman is supportive of the decision by Allfunds to call off a potential sale, the people said. Do the markets bow to Big Tech or are tech leaders influenced by broader market trends? Big Tech weighs heavily on the stock market this earnings season after the run-ups — and eventual declines — in stocks comprising the Magnificent Seven. Yahoo Finance's Head of News Myles Udland and Markets Reporter Josh Schafer join Market Domination Overtime to talk about earnings forecasts for dominant tech companies like Nvidia and where the biggest catalysts lie this earnings season.
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