The flotation of Moneysupermarket. com is imminent now that a silent 48% shareholder has been bought out, a source in the company reveals.
Last week, Simon Nixon, chief executive officer of Moneysupermarket. com, revealed he had formed a new company to acquire co-founder and si-lent partner Duncan Cameron’s 48% share in the business.
Cameron, the brother of Nixon’s former girlfriend, and Nixon reportedly fell out five years ago and since then Cameron hasn’t been involved in the business. But his approval was a necessity if the comparison website was to realise its flotation ambitions.
Cameron will be bought out for £162m in cash plus about 5% in shares.
The source says: “A statement ab-out our future intentions will be made within a fortnight. We’ll go for an initial public offering later this year.”
But Simon Baker, operations manager of Leadbay, says: “The sums in-volved put a question mark over its rumoured £1bn flotation value.”
The website declined to comment.