20 May 2018
Visit www.fingerprints.com

Monex and DLJdirect merger talks on hold - Reuters

31 May 2002  |  2174 views  |  0 Monex and DLJdirect merger talks on hold - Reuters

Japanese Internet broker Monex has halted merger talks with DLJdirect SFG Securities, the online brokerage set up by Credit Suisse First Boston and Sumitomo Mitsui Banking Corp, according to a Reuters report.

A spokesman for Monex told Reuters: "We have been considering a merger but have yet to reach any final agreement on merger conditions, so we have decided to put the idea on hold."

The deal, which would have created Japan's largest online broker with some 318,000 accounts, is rumoured to have broken on conflicting management ideas.

According to the Reuters report, Monex president Oki Matsumoto emphasises that the suspension of talks does not mean the two sides have completely scrapped the idea and there is still a chance negotiations will resume.

Following the news, shares in Monex fell 7.6 per cent to Y27,359.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/

Top topics

Most viewed Most shared
Ripple moves to build ecosystem around XRPRipple moves to build ecosystem around XRP
9529 views comments | 5 tweets | 7 linkedin
HSBC claims blockchain breakthrough for trade financeHSBC claims blockchain breakthrough for tr...
9206 views comments | 14 tweets | 16 linkedin
IT implications and the need to pivotIT implications and the need to pivot
9200 views comments | 2 linkedin
Irish bank caught in social media spying stormIrish bank caught in social media spying s...
8012 views comments | 25 tweets | 16 linkedin
Former JPMorgan blockchain leads unveil new startupFormer JPMorgan blockchain leads unveil ne...
7153 views comments | 2 tweets | 2 linkedin

Featured job

Six-Figure Base + OTE + Benefits
London, UK

Find your next job