BUSINESS CLOSE: Abrdn and Interactive Investor confirm £1.5bn deal

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BUSINESS CLOSE: FTSE finishes on downbeat note; Abrdn buys Interactive Investor; oil giant Shell reveals new share buyback plan

By Mike Sheen For This Is Money

Published: | Updated:


The FTSE 100 index closed down 0.55 per cent or 39.47 points to 7,129.21 this afternoon, while the FTSE 250 index finished down 0.99 per cent or 227.89 points to 22,684.84. 

British asset manager Abrdn will buy DIY stock-picking platform Interactive Investor for £1.49billlion, it has been revealed.

II had been expected to float on the London stock market next year but its private equity owner JC Flowers has instead sold out to the fund management giant. 

In other news, Shell has announced a fresh share buyback scheme and the FTSE 100 was trading down almost 50 points at 11am.  

Online ‘lads mag’ Lad Bible is set to float on the London stock market with a valuation of £360million. It has hired Carol Kane, the co-founder of the online fashion site Boohoo, for its board.

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