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Allfunds abandons talks about potential sale, Bloomberg reports

(Reuters) - Allfunds Group Plc has abandoned discussions over a potential sale of the European fund distribution company, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.

Allfunds received several interests for a deal, but the company's board decided not to proceed with the sale, as the offers didn't fully reflect its growth prospects, the report said.

The Amsterdam-listed group received takeover interest from SIX Group early this year, sources told Reuters, which the Swiss stock market operator later ruled itself out of in March.

Allfunds's largest shareholder Hellman & Friedman is supportive of the company's decision to call off a potential sale, the Bloomberg report added.

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Allfunds declined to comment on the report, when contacted by Reuters.

The group on Tuesday reported a 4% rise in total net revenues for the first quarter.

(Reporting by Kanjyik Ghosh and Harshita Meenaktshi; Editing by Shailesh Kuber)