Abrdn confirmed weekend media speculation that a takeover deal was being discussed but says there is “no certainty” an acquisition will take place.

Interactive Investor, owned by JC Flowers & Co, has expanded rapidly in recent years and has amassed more than 400,000 customers. In March this year it bought rival EQi for nearly £50m and in 2020 it bought The Share Centre.

In a statement to the Stock Exchange today Abrdn said: “The company notes recent media speculation and confirms that it is currently in discussions with JC Flowers & Co regarding a potential acquisition of Interactive Investor. 

“There can be no certainty that these discussions will result in a transaction and a further announcement by the company will be made as and when appropriate.”

Interactive Investor has also today confirmed talks are under way.

A spokesperson for ii said: “As the UK’s leading, subscription consumer investment platform, with more than 400,000 customers and AUA of around £55bn, interactive investor has attracted interest from a number of parties. Discussions with Abrdn are ongoing, there can be no certainty that these discussions will result in a transaction. An IPO remains an attractive and possible outcome, and discussions around the process are also under way.”

Over the weekend Sky News reported that Abrdn was in advanced talks to buy Interactive Investor (II) for more than £1.5bn.

Sky News reported that deal could be concluded by Abrdn within the next fortnight.

Interactive has itself been planning a stock market flotation but this could be called off if the Abrdn deal is successful.

Interactive Investor is one of the UK’s biggest personal investing platforms, offering share trading, ISAs, SIPPs and other products to clients, but is considerably smaller than market leader  Hargreaves Lansdown.

• This is a developing story. Please check back later for updates.