January 22, 2015 / 11:23 AM / 4 years ago

IronFX says bidding for Alpari after Swiss collapse

LONDON, Jan 22 (Reuters) - Cyprus-based online forex broker IronFX said on Thursday that it was in talks to buy Alpari UK, which went into administration earlier this week following heavy losses on the Swiss franc.

“We are in the process of making a bid and in contact with the Administrators,” said Dimitris Hatzis, IronFX’s chief operating officer, in an email to Reuters.

KPMG is acting as the administrator for Alpari.

“IronFX Global understands the sector and Alpari’s business well. The company also understands the pending court cases between the majority shareholder and the company,” Hatzis added.

The co-founder of Russian-owned Alpari applied a year ago to wind up the parent company of its retail currency brokerage, fearing it was “doomed” long before the company’s collapse from trading losses last week, he said on Wednesday. (Reporting By Jemima Kelly; Editing By Patrick Graham)

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