NewMedia Spark rival bid for Spütz &quotunlikely&quot

Senior management at NewMedia Spark, the internet incubator, has cast doubt on the prospect of a German bank's rival bid for Spütz, the financial services company.

The bidding war for Spütz, whose management encouraged shareholders to reject NewMedia Spark's €8.50 ($7.70)-a-share offer, has stepped up a gear. Spütz said in a statement that it had received from a renowned, German listed bank an &quotattractive takeover bid&quot, which will be announced in the next eight days.

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