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Teather & Greenwood

Teather & Greenwood, the stockbroker, is to be acquired by Landsbanki of Iceland for £43m.

Teather & Greenwood is raising £2.9m in a rights issue, in order to strengthen its balance sheet and fund the expansion of its brokerage business.

Teather & Greenwood is planning to sell part of its investment management division to Prudential-Bache for up to £3.6m.

Teather & Greenwood, the independent stockbroker, is planning to recruit up to 20 research and sales staff in order to double its marketmaking activities this year.