Mobile payments specialist Monitise's shares have tumbled more than 8% after warning its full-year revenues are likely to miss City forecasts.
The company also effectively put itself up for sale by revealing it had appointed investment bank Moelis to conduct a strategic review, although analysts claimed it could be short of potential suitors.
“The market is telling us that investors very much doubt that Monitise will find a proper buyer,” Exane BNP Paribas analyst Alexandre Faure said.
“IBM is going to be probably the most speculated buyer,” he added, also naming Mastercard.
Monitise, a former stock market darling, has struggled in recent months following two profit warnings.
Its shares were hit hard in September when its biggest customer Visa said it planned to sell its stake in the company and develop its own mobile payment systems.
“The board believes that the company has an exciting future as an independent business. However, it recognises that there may be other businesses which could leverage Monitise’s capabilities and take maximum advantage of the growth opportunities in the market today,” it said in a statement.
“The strategic review is expected to be all encompassing and will include consideration of corporate transactions and stock market listing options.”
