- Belvoir Lettings has confirmed that it does not intend proceed with the possible merger offer for The Property Franchise Group. Belvoir said it was disappointed that the The Property Franchise Group board had declined to enter into a dialogue given that:

- the The Property Franchise Group board itself had recognised the scale that would be achieved in combining the two businesses

- a number of common institutional shareholders haf publicly stated their support, in principle, for a dialogue between the boards with regard to a possible merger offer.

At 9:51am:

[LON:BLV] Belvoir Lettings PLC share price was 0p at 101p

[LON:TPFG] Property Franchise Group Plc The share price was -6p at 133p

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