Broker Network hails new independence

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The £46m buyout of Broker Network from Towergate has been hailed as a return to independence for the network and warmly received by members. However, some commentators have queried aspects of the deal.

Towergate sold a majority stake in the network plus shares to private equity firm Highbridge. Highbridge also holds a majority stake in Towergate.

Broker Network CEO Andy Fairchild insisted that having Highbridge as the ultimate owner of both organisations does not mean Towergate will still be

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