BGC first quarter revenues up following its February acquisition of GFI
BGC Partners said on
Wednesday it will sell this year the Trayport energy-trading
business the US broker-dealer inherited in its acquisition of
rival broker GFI.
Speaking on an earnings
call, Howard Lutnick, chief executive of BGC, told investors:
"The reality of the stock market is that high growth, high
margin companies like Trayport often don’t get the
valuation they deserve inside company accounts."
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