HBOS acquires IMIWeb UK

HBOS acquires IMIWeb UK

Halifax Share Dealing has acquired IMIWeb UK Limited, the London-based online execution-only broker from IMIWeb Bank, part of Italy's Sanpaolo IMI banking group.

In a brief statement to the London Stock Exchange announcing the transaction Halifax parent group HBOS says that IMIWeb had net assets of approximately £2m at completion. Financial details were not disclosed.

IMIWeb offers real-time trading and news and analysis across seven international markets, including London, New York, Frankfurt, Paris, Milan, Amsterdam and Brussels.

The firm was rated the fastest growing online broker for the whole of 2002 by ComPeer, the stockbroker benchmarking service. ComPeer ranked IMIWeb number one for growth in bargains transacted, total consideration traded, revenues earned and online clients attracted.

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