Countrywide boss Long quits as investors reject Alchemy deal

Peter Long, chairman of Countrywide

Countrywide boss Peter Long has quit the company with immediate effect following the rejection of a £90m rescue fundraising by shareholders.

Investors in the estate agency group refused to support the equity raising, which was backed by venture capital group Alchemy Partners, and the group will now consider an alternative reverse takeover offer from rival Connells.

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