Stricken currency firm Argentex in talks about emergency sale

A London-listed currency risk management provider, which was caught in the financial crossfire of Donald Trump's tariffs bombshell, is in advanced talks about an emergency sale to a rival.

Sky News has learnt that Argentex Group, which saw trading in its shares suspended on Tuesday, is negotiating a sale with several parties, with IFX Payments, a privately owned company, said to be among the contenders.

Banking sources said a definitive deal with a buyer could be announced as soon as Wednesday morning.

IFX Payments was said to be one of several bidders which had been in discussions with Argentex's advisers during the course of Tuesday.

Any transaction is expected to be undertaken on a solvent basis, albeit at a discount to the roughly £52m valuation at which its stock was suspended.

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