The Official Virt-X (formerly TradePoint TFN) Thread!
carer - Tue, 01 Jan 02 :
Virt-X may merge to survive
Fri 28 Dec 2001
LONDON (AFX) - Virt-x PLC, the operator of the virt-x pan-European blue chip exchange, may have to merge with a rival to secure its future, the Financial Times reported, citing Head of exchange operations Lee Hodgkinson.
"We are open to consolidation. There will be two or three pools of liquidity (in Europe) at the end game. We will be in one of those," he said.
Hodgkinson added: "For the time being we are delivering the business plan as Virt-x. We are 100 per cent focused on our 10 per cent target," referring to the target set in June by the company's CEO Antoinette Hunziker-Ebneter of reaching a 10 pct share of Europe-wide share trading within 12 months. Virt-x currently has 8 pct of this market.
Analysts regard the LSE as the most obvious suitor given both are London-based and trade stocks with global investor interest, the FT said.
