Count Financial ups stake in Mortgage Choice
Dealer group Count Financial yesterday increased its minority stake in Mortgage Choice, buying 1.5 million shares in the franchise group.
The latest purchase increases Count's stake from 15.27 per cent to 16.48 per cent (equal to 19,597,464 shares) and will keep the rumour mill turning about a fresh takeover bid for the franchise group.
It follows a meeting between Mortgage Choice chief executive Michael Russell and Count Financial chairman Barry Lambert on May 15.
Both said the meeting was set up purely to get to know each other.
Since taking over as Mortgage Choice boss, Russell has made it clear he is looking for strategic alliances and possible acquisitions.
Count Financial, primarily a financial planning business, owns wholesale aggregator Finconnect.
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