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Investcorp plans Moneybookers IPO

Bahrain-based investment bank, Investcorp plans to float European online payment firm Moneybookers, Reuters has reported, citing four people familiar with the matter. The investment bank had tried to sell the firm last year. Investcorp hopes the London listing, of perhaps a third of the company, could place a value of more than €500m on the whole, one of the people said. Moneybookers competes with online auctioneer eBay's Paypal service, and with money transfer companies including Western Union Co for "peer-to-peer" business such as helping expatriates send money home.