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France's Ingenico ends merger talks

French payment solutions provider Ingenico Group SA said its board terminated the process review of the bids it had received for a potential merger.

The company said in a Dec. 17 statement that it is instead focusing on the preparation of a midterm strategic plan, which it expects to release before its 2019 annual general meeting.

Following the announcement, Ingenico's shares fell sharply, Reuters reported. It was rumored that Natixis, a division of Groupe BPCE, was interested in taking over Ingenico.