The Week: City news - Informa buyer backs down

Providence Equity Partners, the private equity consortium that has been looking to buy Informa, the business-to-business publisher, has withdrawn its offer after it was rejected earlier this month.

The group, which includes the Carlyle Group and the Blackstone Group, initially bid £1.9 billion for the company, which publishes titles such as International Freight Weekly, Banking Technology and Mobile Communications International. Providence Equity Partners has reserved the right to take part in another approach within six months.