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Fundsdirect sale announcement due tomorrow morning

Fundsdirect is at the centre of sale speculation with an announcement to be made tomorrow morning.

The fund supermarket was put up for sale in February following a strategic review of the business.

A number of staff at the company are already under notice of redundancy, which Fundsdirect chief executive Simon Bratt says is “a necessary process in the sales discussion.”

Bratt says: “We will be issuing a progress report tomorrow to show where we stand but at this time I cannot confirm or deny whether the company has been sold.”

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