Rel Money eyes 51% stake in UK firm

Mumbai, March 13: Anil Dhirubhai Ambani Group firm Reliance Money Express on Friday said it will acquire a majority stake in UK-based money transfer firm No1 Currency and expand the company's base to over 500 outlets within six months.
"The company would acquire 51 percent of No1 Currency and the deal will be completed most probably by the end of this month. We aim to expand the number of outlets from the present nearly 300 to 500 within the next six months," Reliance Money Express Director and CEO Sudip Bandyopadhyay said.
LI: Further consolidation in the industry. This firm acquired a stake in Wall Street Exchange last year. The offer money transfers already.