Konnect Mobile Communications Inc. signed a non-binding heads of terms agreement to acquire Fandango Holdings Plc (LSE:FHP) in a reverse merger transaction on December 19, 2018. The transaction would result in Fandango shareholders having a minority interest in the enlarged group and will result in a fundamental change in the business of Fandango. The transaction is subject to completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules the Takeover Code. Konnect Mobile Communications Inc. cancelled the acquisition of Fandango Holdings Plc (LSE:FHP) in a reverse merger transaction on April 24, 2019. The deal terminated due to failure to raise the required initial funding for the acquisition.