Why Is LMAX Only Worth £3.6 Million?
LMAX lost another £4.5 million in the first six months of fiscal '13.
After pouring several tens of millions of pounds into its online FX subsidiary LMAX over the past few years, Betfair has decided to sell a 67% stake in LMAX to management, in an MBO which values LMAX at just £3.6 million.
For more details see LeapRate's Forex Industry News at leaprate.com.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.