Norway's Atea says takeover talks stopped

OSLO Fri Oct 19, 2012 1:15am EDT

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OSLO Oct 19 (Reuters) - Norway's Atea ASA has ended talks with a potential buyer, it said late on Thursday, after earlier announcing it was in discussions with an unnamed private equity fund for a deal that would value the IT firm at least $1.2 billion.

"The discussions have now been discontinued as it has not been possible to reach a final agreement between the potential offeror and the largest shareholder of the Company, Systemintegration ApS," Atea said in a statement.

The private equity fund had been in talks about buying the 28.46 percent stake held by Systemintegration ApS, Atea's largest shareholder.

Shares in Atea rose 12.7 percent on Wednesday. (Reporting by Victoria Klesty; Editing by Daniel Magnowski)

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