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Investec to Begin ‘Detailed’ Talks With Evolution, Times Says

Investec Plc, the private bank and wealth manager bidding to buy Evolution Group Plc, will begin “detailed discussions” with the British brokerage this week, The Sunday Times reported without saying where it got the information.

While the parties haven’t agreed on a price yet, the value of the deal focuses on Evolution’s wealth-management business, the newspaper said. Investec won’t place a value on Evolution’s securities unit, which reported a loss in the first half, according to the newspaper.

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