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30 firms bidding for Keydata

PricewaterhouseCoopers has confirmed that there are currently 30 bidders interested in buying Keydata and adds that it hopes to sell the firm by next week.

PwC says it is too early to say whether the firm will be sold in its entirety or broken up.

A PwC spokeswoman says it is resuming processing income payments for retail investors and hopes that payments will be made in the next few days.

Jubilee Financial Products and NDFA both announced interest in the firm yesterday.

Jubilee Financial Planning chief executive Adam Habib says he cannot put a figure on the deal until he knows what parts of the business are on offer.

He says: “Some contractual clauses may trigger businesses to move away from Keydata or stay there, we just don’t know. We need to get accepted by PwC, see further information and work it out from there.”

Habib says the process will take some time given the size of Keydata’s business. He says: “I know quite a few institutions used Keydata for administration and it’s really the detail of those agreements which will determine how much of the business will remain

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