1st Feb 2016 11:30
LONDON (Alliance News) - Barclays PLC has tabled an offer retail stockbroker TD Direct Investing, Sky News reported on Monday, in a move which could create a big challenger to Hargreaves Lansdown PLC.
Citing sources, the report said there is no certainty that Barclays will acquire TD Direct, which is owned by Canada's Toronto Dominion (TD) Bank, amid competition from a small number of bidders.
The current owner could decide to put a stop to the sales process altogether, the report said.
If acquired, TD Direct would be integrated with Barclays Stockbrokers, which is a competitor in the market.
A TD Bank spokesman told Alliance News it does not comment on "rumour or speculation", while Barclays declined to comment.
Shares in Barclays were down 0.4% at 185.25 pence on Monday, while shares in Hargreaves Lansdown were up 0.1% at 1,364.00p.
http://news.sky.com/story/1633689/barclays-among-bidders-for-td-direct-broker
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
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