Spanish business take stake in price camparison site

Mapfre Familiar has purchased a 25% shareholding in Admiral's new price comparison business in Spain, Rastreator.com. Terms of the purchase have not been disclosed.

Rastreator.com launched at the end of March as one of the first car insurance price comparison sites in Spain.

It is attempting to follow in the footsteps of Confused.com in the UK.

Henry Engelhardt, Admiral chief executive, said "We think there's a good chance for success for Rastreator in Spain and we're glad to have the involvement from such an outstanding Spanish insurer as Mapfre."

Antonio Huertas, Mapfre Familiar chief executive, added: "We're pleased to get involved with Admiral Group in what we think is a very exciting new venture."

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