Swissquote shares rose 10 percent after the company
announces the takeover of Switzerland-based forex broker MIG
Bank for an undisclosed price.
'We see the future of Swissquote in currency trading, where
its position has been considerably strengthened by the
transaction,' says Andreas Brun, an analyst at Zuercher
Swissquote, which said it would fully finance the purchase
through existing equity capital, says income from trading forex
will account for roughly half its revenue following the deal.
Keywords: MARKETS EUROPE STOCKSNEWS
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