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RVU Announces Closing Acquisition of Penguin Portals, Owners of Confused com, Rastreator and LeLynx fr
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(Reuters) - Britain’s blue-chip FTSE 100 index ended at its highest since March on Tuesday as investors returned from a long weekend to cheer a post-Brexit trade deal that averted a chaotic exit from the European Union.
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls
In its first day of trading after the deal, the blue-chip FTSE 100 index gained 1.6%, logging its best day since Nov. 9.
International companies such as Unilever and Diageo gave the biggest boost to the FTSE 100 despite a firmer pound, while drugmakers AstraZeneca and GlaxoSmithKline also added to the gains.
Insurance firm Admiral agrees £508m deal for sale of online business to rival
Insurance firm Admiral agrees £508m deal for sale of online business to rival
Insurance is soaring for a lot of people (Image: Shared Content Unit)
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Admiral will sell the price comparison business it shares with Mapfre to Zoopla
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INSURANCE giant Admiral has agreed to sell its comparison website business, which includes Confused.com, to the owner of rival Uswitch in a deal worth around £508 million. Admiral, with offices in Newport, Cardiff and Swansea, told investors on Tuesday that it has agreed to sell the Penguin Portals arm, which also includes Rastreator.com and LeLynx.fr and the group’s technology operation and its 50 per cent share in Preminen Price Comparison Holding to ZPG (Zoopla Property Group). ZPG has said it will control the acquired businesses through its comparison site division, RVU. David Stevens, chief executive of Admiral Group, said: “The purchase of the UK and European comparison businesses by RVU offers a positive outcome for our customers and our employees, and also provides good value for our shareholders.
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