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AMP pays £52m for iii

AMP has bought personal finance website Interactive International Investor for £52m, making its second acquisition in two weeks.

The move follows AMP’s takeover of Towry Law announced last week for £75.7m, giving it 200 RIs in the UK.

AMP is offering 30p per III share, making the deal worth £52.1m in share capital. Shares in III closed on Monday at 25p, giving it a market capitalisation of £40.9m.

AMP’s recently launched fund supermarket Ample will be integrated with III. III product marketing director John Blowers was poached to head up the service.

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