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Prezzo takeover plan shelved

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Date: Wednesday 08 Oct 2008

LONDON (ShareCast) - Turmoil in financial markets has forced a management buyout team to scrap plans to buy Italian restaurant chain Prezzo.

A team of directors made a preliminary approach seeking permission to explore a possible offer for the company back in May.

They blamed “current banking conditions” for the decision, which leaves Prezzo without any potential bid interest.

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