Meteor halts Keydata talks

The plan provider had conducted due diligence on the business and agreed a purchase price with administrator PricewaterhouseCoopers when it pulled out earlier this month. It is understood Meteor was frustrated by drawn-out negotiations and a last-minute attempt to increase the asking price. It was thought to be the only company still interested in acquiring the assets. Keydata was placed into administration in June 2009 after the FSA declared it was insolvent because it would be unable to meet a multi-million pound tax bill caused by the selling of non-compliant ISA plans. Meteor f...