EToro's (ETOR) offer to acquire European digital wealth manager Moneyfarm for 250 million euros ($279.8 million) to 300 million euros has been rejected by the UK-based firm, Bloomberg reported Friday, citing sources familiar with the matter.
Moneyfarm declined to pursue a deal because it deemed the valuation too low, the sources told the media outlet.
EToro said it does not comment on market rumors, while Moneyfarm did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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