Bell Financial Group announced to the Australian Securities Exchange today that negotiations in relation to the acquisition of Tricom Group have ceased.
The announcement comes after a conditional Heads of Agreement for the 100 per cent acquisition of troubled broking house Tricom lapsed on March 7.
The agreement was signed on February 19 and subject to a number of conditions, including satisfactory completion of due diligence prior to March 7.
At the time, Bell’s announcement said that discussions were continuing with a view to reaching an agreement.
Bell Financial Group declined to comment on the issue at the time and Tricom officials were not immediately available for comment.
