Wall Street's biggest losers

No Pot Of Gold

'It’s definitely going to hurt'.

Wall Street is facing the loss of about $250m in fees after Comcast scrapped its $45.2bn takeover of Time Warner Cable.

Bloomberg News reports that JPMorgan, Citigroup and Morgan Stanley are among the banks that advised on the deal, which was called off Friday after objections from U.S. regulators.

That collapse has also thwarted Comcast’s sale of 3.9 million cable-TV subscribers, partly to Charter Communications, and is putting a third deal - Charter’s $10.4bn acquisition of Bright House Networks LLC - in limbo as well.

The three deals would’ve yielded as much as $318m in fees for 11 firms, a haul that -- if combined - would be the biggest advisory windfall in Wall Street’s history, according to data from Freeman & Co. That doesn’t include fees for financing the deals.

'It’s definitely going to hurt', said Jeff Nassof, vice president at Freeman in New York. 'The M&A market has been fairly strong in general, so it’s not going to be as harsh as it might have been'.

To access the complete Bloomberg News article hit the link below:

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