Cofunds board denies reports of selling business

Cofunds has denied reports that it is in negotiations to sell off the business.

The Sunday Telegraph reported earlier that Legal & General had launched a bid to acquire the funds supermarket.

However, Cofunds has denied that the board has any plans to sell the business, via Twitter.

Speculation grew after it was announced today that former Cofunds managing directors Andy Creak and Andrew Harris have launched a new consumer offering – rplan – with former colleagues Gavin Baird and Nick Curry.