(Bloomberg) —
CMC Markets Plc’s Chief Executive Officer Peter Cruddas is working with advisers on plans to break up the online broker into two separate London-listed companies, Sky News reported Saturday, citing people familiar with the plan that it didn’t identify.
If the split goes through, it would create a leveraged trading business hosting its spread-betting operations, and a non-leveraged business holding the technology and new investment products platforms, Sky said. An announcement that work has started on breaking up the company could come within days, according to the report.
Both entities would be listed on the London Stock Exchange, but only the legacy business is likely to keep the CMC name. A CMC spokesperson declined to comment to Sky about the split.
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