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Boursorama forecasts EUR10 million savings from Selftrade buy

09 January 2003  |  3611 views  |  0 Boursorama forecasts EUR10 million savings from Selftrade buy

French online broker Boursorama is forecasting pre-tax savings of EUR10 million a year from its EUR62 million acquisition of a 99.99% stake in DAB Bank's Selftrade operation.

The company says the savings will come from migration to a single IT platform aligned with back office, operational and marketing consolidation and will be in place by the end of the year.

Boursorama and Selftrade accounted for 38% of all online orders executed in France in 2002, giving the combined group a clear market-leading position.

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