HT&E agree to terminate the sale of Soprano

HT&E have agreed to terminate negotiations to complete the sale of Soprano to Link Mobility Group Holdings.

HT&E holds a 24.9% stake in Soprano, and as announced on 18 May, along with other shareholders had signed a non-binding term sheet to sell 100% of shares to Link Mobility.

After four months of extensive and protracted negotiations towards a binding transaction, the parties have been unable to agree terms to be documented to create a legally binding agreement.

While Soprano shareholders intended to proceed on the terms recorded in the non-binding term sheet, Link Mobility proposed new terms and conditions, which when considered alongside recent Link Mobility share price volatility and increased debt, was deemed to not be in the interest of Soprano shareholders.

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