The summer of mergers & acquisition continues as Swissquote, a Swiss banking group, announces its acquisition of Luxembourg-based Internaxx in order to allow unrestricted access to the European market, on 7 August 2018. Brexit strikes again it seems…
The purchase of Internaxx from Interactive Investors Ltd, majority controlled by JC Flowers, is to be fully financed by Swissquote funds to the tune of €27.7 million. The deal awaits regulatory approval.
An article on Financemagnates.com quotes Swissquote CEO Marc Bürki as saying, “Unrestricted access to the European markets is very important to Swissquote, especially as Brexit draws closer.”