Money Portal could opt for sale after review

23 April 2009 0:18 am

The firm says it has had expressions of interest from new and existing investors wanting to put more money into the business and that it would consider a capital restructure.

The Money Portal board has appointed Fenchurch Advisory Partners to review and evaluate investment proposals.

Group chief executive Mark Lund says: "We have received a number of unsolicited approaches from both an existing shareholder and potential new shareholders keen to invest money in Money Portal's business. We believe these proposals underpin the potential of the advice sector."

Financial Technology Research Centre director Ian McKenna says: "Money Portal has assembled a collection of businesses which have given it significant market share but with a diverse range of business models. It would make sense for it to look to rationalise the business and focus around the units that are most profitable. By doing this, the company should be able to make itself attrac- tive to investors."

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