OzForex Group Limited
(ASX:OFX) has confirmed it has been in talks with one of its competitors, HiFX Group, regarding the business and its proposed sale.
Responding to media speculation the online foreign exchange group has told the ASX its discussions are continuing. However, OzForex has noted talks are incomplete and remain uncertain as to whether they will result in a transaction.
OzForex says it will continue to evaluate appropriate growth opportunities, including organic opportunities and potential acquisitions.
The response comes after media named OzForex as a potential bidder for HiFX Group over the weekend for a price tag of more than $180 million.
OzForex Group increased its net profit by 14 per cent to $9.5 million in the first half of the 2014 financial year.
