Talks mount over FXall buyer

The FXall board agreed to sell the stake to TCV rather than the other front-running firm, General Atlantic, at a meeting held on the week of March 6, according to market sources. General Atlantic has already been active in the FX space, most recently buying a 25% stake in forex specialist firm SaxoBank for $126.5 million last year (FX Week, June 20, 2005).

Analysts commented that the $300 million valuation of the company is largely fair. It does, however, represent a significantly higher mul

To continue reading...