British Telecommunications Plc, in an attempt to strengthen its position as a leading supplier of specialist systems to financial trading institutions, has announced its intention to acquire a 29.5% stake worth UKP11.7m in money broker M W Marshall & Co. The management of Marshalls bought the company from British & Commonwealth Plc, which acquired the company in 1987. Under the terms of the new agreement, Marshalls management will hold a 47.9% share and Hatori-Marshall, a Japanese money broker, will have 18.6%. British Telecom (CBP) Ltd, which designs, manufactures and supplies integrated voice and data systems equipment, will have responsibility under the new agreement for the development of dealing room products. British Telecom claims that the acquisition will give it direct access to the expertise of the money broker as a user in design of new dealing room equipment.
