SIMONSTONE-BASED Time Computers has pulled out of its takeover bid for its troubled French rival Continental Edison.
But the company has confirmed it remains keen to expand into Continental Europe and said it is talking to a number of prospective targets.
In a brief statement, Time said it was very disappointed to announce that talks with the French company had ceased.
"The deal needed us to reach agreements with creditors of the company and, unfortunately, this was not achieved," said spokesman Colin Middlemiss.
"We continue to look for expansion opportunities within Europe and are in talks with other companies."
Time, which earlier this year bought out its UK rival, Tiny, had been hopeful to conclude talks with Continental Edison by midsummer.
It had been anticipated that some of the production of France's third biggest supplier of personal computers would have been transferred to Simonstone.
More than 400 new jobs have been created at Time since it bought Tiny from receivership.
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