Alpari UK denies acquisition by FXCM, talks continuing – LeapRate Exclusive


Alpari UK management, speaking with LeapRate, indicated that the rumors circulating of FXCM Inc (NYSE:FXCM) buying Alpari UK were just that – rumors – and were off base. In the words of one of the senior Alpari executives involved in the ongoing negotiations, “Not true. Don’t know where that came from, but not true.”

Similarly, a senior source at FXCM told LeapRate, “We are definitely not buying Alpari.”

Alpari UK also denied that there were any issues of note at its Alpari Japan subsidiary. We had reported earlier today that an ‘Important Notice’ posted on Alpari’s Japanese website mentioned that Alpari JP – a subsidiary of Alpari UK – had informed clients that since their parent was insolvent that they were going to close all existing client positions, and that funds were going to be returned to clients. The notice is indeed there, but apparently was uploaded in haste when it was first reported that Alpari UK was insolvent. As Alpari UK reversed course and indicated it was not insolvent, the announcement at Alpari JP was, apparently, premature.

If a buyer emerges for Alpari UK, or a new investor injecting new capital into the company a-la the Leucadia-FXCM investment, it is expected that Alpari Japan will continue normal operations.

And now back to Alpari UK – our understanding is that negotiations are fairly advanced but are still ongoing between Alpari UK and at least one outside group, on a range of options from injecting fresh capital into Alpari UK to acquiring the company (and/or its assets) outright.

If a deal is concluded it will likely be done within the next few hours, before the trading day begins Monday morning Asia time.

Stay tuned to LeapRate, we’ll bring you the real story once it occurs.

Related News

arrow

Alpari UK denies acquisition by FXCM, talks continuing - LeapRate Exclusive

36

Send this to a friend

Subscribe to LeapRate
PGlmcmFtZSBzcmM9Ii93cC1jb250ZW50L2E0bHIvaGFuMTZyZXNfNjI1eDQwMC5odG1sIiB3aWR0aD0iNjI1IiBoZWlnaHQ9IjQwMCIgZnJhbWVib3JkZXI9IjAiIHN0eWxlPSJib3JkZXI6bm9uZTsiIHNlYW1sZXNzPjwvaWZyYW1lPg==
PGlmcmFtZSB3aWR0aD0iNjQwIiBoZWlnaHQ9IjM5NSIgc3JjPSJodHRwczovL3d3dy55b3V0dWJlLmNvbS9lbWJlZC80Mzc5MThJbFc5ST9yZWw9MCZjb250cm9scz0wJnNob3dpbmZvPTAiIGZyYW1lYm9yZGVyPSIwIiBhbGxvdz0iYXV0b3BsYXk7IGVuY3J5cHRlZC1tZWRpYSIgYWxsb3dmdWxsc2NyZWVuPjwvaWZyYW1lPg==
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry:
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS9hNGxyMTcvNjAweDQyNS82MDB4NDI1TFIuaHRtbCIgZnJhbWVib3JkZXI9IjAiIHdpZHRoPSI2MDAiIGhlaWdodD00MjUiPjwvaWZyYW1lPg==
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS9hNGxyMTcvdWZ4MTgvNjAweDQyNV8xc3QtVGltZUxlYXBSYXRlLWVuLUdCX0hUTUw1Lmh0bWwiIGZyYW1lYm9yZGVyPSIwIiB3aWR0aD0iNjAwIiBoZWlnaHQ9NDI1Ij48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Ii8vY2RuLmJhbm5lcnNuYWNrLmNvbS9iYW5uZXJzL2JjaWVod29iOC9lbWJlZC9pbmRleC5odG1sP3VzZXJJZD0zMTU5MzQwNiZ0PTE1MTAxMzg3MTAiIHdpZHRoPSIxMDAlIiBoZWlnaHQ9IjEwMCUiIHNjcm9sbGluZz0ibm8iIGZyYW1lYm9yZGVyPSIwIiBhbGxvd3RyYW5zcGFyZW5jeT0idHJ1ZSIgYWxsb3dmdWxsc2NyZWVuPSJ0cnVlIj48L2lmcmFtZT4=