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Online brokerages on buying spree

E*Trade buys its joint venture E*Trade U.K. and Net services bank Telebanc Financial, while Schwab buys financial firm U.S. Trust, as the online brokerages rush to extend their reach in the face of greater competition.

CNET News staff
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E*Trade buys its joint venture E*Trade U.K. and Net services bank Telebanc Financial, while Schwab buys financial firm U.S. Trust, as the online brokerages rush to extend their reach in the face of greater competition.

 
E*Trade buys out U.K. joint venture
The online brokerage says it has taken 100 percent ownership of E*Trade U.K. in a move to further its plans for a global trading network.

Schwab to buy U.S. Trust in stock deal
The brokerage plans to buy the 147-year-old financial firm for $2.7 billion in stock, in an effort to extend its business to cater to wealthy individuals.

E*Trade gets approval to buy Net savings bank
The U.S. Office of Thrift Supervision approves the purchase of Telebanc Financial, parent of an Internet savings bank, by online broker E*Trade Group.