Tie-up will create the fourth-largest corporate broking and advisory business in the City

UK stockbroker Shore Capital has bought rival Stockdale Securities in a deal worth £9m. It is the latest example of consolidation in a sector that is expected to shrink under European trading rules.

The tie-up will create the fourth-largest corporate broking and advisory business in the City. The combined entity will advise around 125 clients and provide research on about 300 stocks.

UK broker Shore Capital buys rival Stockdale in £9m deal

Paul Clarke

Investment Technology Group

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