Tullett Prebon Considering Buying Icap’s Global Broking Business
Both firms confirm in statements that they are in talks.
Icap’s associated technology and broking platforms would be sold to Tullett Prebon as part of the deal, according to the statements.
Tullett Prebon would issue new shares to Icap’s shareholders, giving Icap a minority stake in Tullett Prebon.
Both sides were very clear in their statements that nothing has been confirmed.
“There can be no certainty that these discussions will lead to any transaction or as to the terms upon which any such transaction might proceed,” Icap said in a statement.
Tullett Prebon had a similar sentiment.
“Discussions regarding the transaction are currently ongoing and there can be no certainty that any transaction will be agreed. Tullett Prebon will update the market when it is appropriate to do so,” Tullett Prebon said in a statement.
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