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Rush for a punt on mmO2 demerger

12 April 2012

NEXT month's demerger of mobile phones business mmO2 from British Telecom has drummed up some racy business in the spread betting markets.

Cantor Index's David Buik said: 'We started making a price only yesterday and we got taken with some vehemence and dexterity.'

Based on estimates that mmO2 is worth £6bn or 70p a share, Cantor opened its spread at 73p to 78p. City Index had opened at 129p-132p. Arbitrageurs who saw an easy killing moved in with force.

Today Cantor had pushed its spread up to 87p-92p while City Index had pulled its down to 90p-95p.

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