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Jippii Group leaves online brokerage JV.

NORDIC BUSINESS REPORT-3 April 2001-Jippii Group leaves online brokerage JV(C)1994-2001 M2 COMMUNICATIONS LTD

The Finnish multi-service operator Jippii Group Oyj has pulled out from a joint venture with FIM Securities Ltd and sold all its shares.

The joint venture, as yet unnamed and now wholly-owned by FIM Securities, is to offer online securities brokerage later this year.

"We sold our share to FIM Securities Ltd because the whole business concept of the joint venture has changed. At the current market situation, online securities brokerage will focus on noticeably smaller and more demanding target groups than originally planned; therefore the synergies with our Internet portal are no longer obvious," said Jippii Group's CEO Harri Johannesdahl.

FIM Securities is to go ahead with the plans to launch the new online securities brokerage. According to FIM Securities' CEO Jan Forsbom the preparations have proceeded as planned.

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Title Annotation:joint venture with FIM Securities Ltd. ends
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUFI
Date:Apr 3, 2001
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