View more on these topics

Share blow for Moneyextra

The future of The Exchange&#39s parent company Moneyextra has been thrown into uncertainty after a potential major shareholder pulled out of an option to buy 22 per cent of its shares.

Deutsche Bank had taken an option to buy the stake, which amounts to more than 48 million shares, in June.

But after a three-month window, the bank announced on October 3 that it was no longer interested in buying the shares.

At the beginning of this week, shares in Moneyextra were trading at an all-time low of 30p, down from a high of 385p at the end of last year.

Industry insiders say The Exchange has been looking for a buyer for two months. In September, Moneyextra announced it was undertaking a strategic review of acquisitions and partnerships amid speculation that the business might be broken up and sold.

Misys, owner of M-Link, has been linked consistently with a possible takeover of The Exchange. Other speculation suggests a possible takeover by a pool of product providers.

Moneyextra communications director James Garthwaite says: “Deutsche Bank&#39s decision does not affect us at all. Our key objective is looking at acquisitions and partnerships, not looking for a buyer.”

A Deutsche Bank spokesperson says: “Deutsche Bank&#39s decision is unrelated to the company itself. We had no intention of holding a strategic role in its development.”

Recommended

TMO fix mortgage for self certers

The Mortgage Operation has brought in the self cert fix mortgage.The self cert fix is aimed at self employed people who have difficulty proving their income when applying for a mortgage.It has a fixed rate of 6.95 per cent for the first three years of the mortgage, after which it will revert to two per […]

The Mortgage Operation – Self Cert Fix

Thursday, 12th October 2000.Type: Self cert mortgage.Fixed term: Until December 3, 2003.Fixed rate: 6.95 per cent.Minimum loan: £25,001.Maximum loan: 90 per cent of valuation subject to a maximum of £1 million.Income multiples: 3.5 times principal income plus second, or 2.75 times joint for self employed.Arrangement fee: £325.Redemption fee: Three months&#39 interest on amount repaid for […]

National Mutual – Trustee Investment Bond

Thursday, 12th October 2000.Type: Unit linked bond.Aim: For trustees of pension funds investing for growth.Minimum investment: Monthly £200, single £10,000.Fund links: Balanced managed, stockmarket managed, global equity managed, UK equity, UK equity tracker, UK equity select, european equity, european equity tracker, european equity select, north American equity, north American equity tracker, north American equity select, […]

Pep and Isa portfolios can be tidied up with a multi-fund approach

The golden rule for Peps and Isas is minimise the paperwork and maximise performance. But how do you go about it?Although the first Peps were restricted to very modest investment levels, the total that could have been put in over the whole 12 years they were available added up to a significant amount. In fact, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com