MDS undecided over retaining Trader Dealer amid talks
Company hoping to reach resolve
By
Vishal Teckchandani Mon 20 Oct 2008
MDS Financial is judging the fate of its Trader Dealer system should a formal takeover or merger offer for the group occur.
MDS Financial Group is determining the fate of its Trader Dealer brokerage system should an official takeover or merger offer for the group eventuate, MDS Financial director Allan Shek said.
The company has not decided whether Trader Dealer would be sold or kept as a subsidiary should MDS Financial be bought or merged into another business.
"We're hoping to resolve some things in the very near future but there's no set timeframe, I can't provide that," Shek told InvestorDaily.
MDS Financial announced on Friday that it received separate informal proposals from three unnamed parties regarding a takeover, or merger, or the purchase of a significant stake in MDS Financial.
The company cited its board was carefully evaluating the proposals given the current state of capital markets.
"These are very early discussions," Shek said.
Financial planners and investors using Trader Dealer to buy stocks were unlikely to be effected during the talks and MDS Financial was having no trouble meeting its day-to-day operational obligations, he said.
MDS Financial rescued Trader Dealer from its former collapsed parent, Opes Prime.
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