RealTime IT News

GlobalNetFinancial Teams With Largest European ISP

Financial news provider GlobalNetFinancial.com Monday announced that is has struck a partnership deal with World Online International (WOI), the largest pan-European ISP.

GlobalNetFinancial will provide Money and Finance Channels to existing and future Internet portals operated by WOI. The channels will be similar to the highly successful www.UK-iNvest.com Web site which GlobalNetFinancial provides to Freeserve in the UK.

WOI, a joint venture between the Swiss-based Sandoz Family Foundation, Intel and Reggeborgh Beheer, operates in 13 European countries. Its web sites receive over 160 million page views per month. Among its other strategic alliances are deals with Netscape, Microsoft, and Bertelsmann.

"This agreement with World Online is one of the most important events in the history of our company as it gives us a complete and immediate footprint across the entire EU and increases our 'built in' online traffic four fold," said Stanley Hollander, co-CEO of GlobalNetFinancial.

"Our business strategy is to leverage our wholly-owned highly trafficked web sites by partnering with leading ISPs, ECNs, and brokerage and clearing firms globally to create an international network of online transaction businesses in pan European stocks, US stocks, UK stocks, Canadian stocks, foreign exchange, and other financial products."

GlobalNetFinancial anticipates that the first four money and finance channels will be launched before the end of the year in Holland, Germany, France, and Denmark. Others will follow at intervals during 2000 and beyond.

The new sites will link directly with GlobalNetFinancial's online financial transactions businesses, enabling users to trade in UK and US stocks and foreign exchange.

Commenting on behalf of WOI, executive chairman Nina Brink said the partnership would enforce WOI's leading position in the European market.

Recently, GlobalNetFinancial announced a separate deal with an Italian consortium to jointly own and develop Italia-invest.com, providing news, analysis and data on Italian financial markets.

GlobalNetFinancial's European headquarters are in London.