Stanley wants Moneybox back

THE former boss and founder of cash machine operator Moneybox has lined up private equity funding to launch a £75m bid. Paul Stanley, who resigned as chief executive in September after a profits warning, is believed to have funding to offer about 38p per share. But he would only say: 'I think potentially there is a deal to be done.'

Stanley, who owns about 2% of Moneybox, added that he was 'broadly supportive' of the board.

He stepped down shortly after Moneybox, which operates more than 2,800 machines, announced that profits this year would come in about £1.5m below expectations.

He was replaced by executive chairman Peter McNamara, former managing director of Alliance & Leicester, who told shareholders 2005 would be a year of consolidation, but would also see the benefits of cost-cutting measures and new business.

It is believed Moneybox has received several expressions of interest in recent months, including an informal approach from Royal Bank of Scotland - which bought rival Hanco in July - and Cardpoint.