Deals website snaps up rival

SALES at Moneysupermarket.com rose strongly in the third quarter as the price comparison firm revealed it will pay up to £11m for a 51 per cent share in Local Daily Deals (LDD).

It has handed over £1m initially with more cash due to follow over the next three years depending on the performance of LDD.

The group reported a 14 per cent rise in revenues with earnings before interest, taxes, depreciation, and amortisation up 25 per cent in the period to 8 November. Sales soared 107 per cent in home services as consumers looked to cut energy bills.