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Content Partnership for Freeserve
2001-07-30 admin
Financial services acquires rival and closes deal
31 July 2001, 4 pm GMT
It must have been a good day for Advfn.com, the AIM-listed financial services provider,
which has bought its rival UK-Invest.com from Globalnet Financial.com 800,000 stg.
The deal will be financed by 20 mln new ordinary shares, and Globalnet will also pay 700,000 stg in cash for a further 17.5 mln new ordinary shares in the company, according to agency reports
(AFX)
Advfn also announced a content partnership with Freeserve which will allow it to provide financial news and share price data to Freeserve's portal.
ADVFN spokesperson says that the buy of UK-Invest, combined with the Freeserve partnership, will allow it to increase its paying subscriber base and establish
"significant" advertising opportunities.
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