Boursorama forecasts EUR10 million savings from Selftrade buy
09 January 2003 | 3649 views | 0
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.