Competition watchdog accepts Tullett Prebon and ICAP merger

Merge lanes road sign

Britain's competition watchdog Competition and Markets Authority (CMA) has accepted in principle merger undertakings between Tullett Prebon and ICAP.

Reuters reports that the CMA said on Tuesday that it has not taken a final decision on the Tullett and ICAP deal.

ICAP said in June that it had offered to sell its London-based oil desks to help address competition concerns over the merger of its global hybrid voice broking business with Tullett.

CMA said on Tuesday that the companies had proposed mid-sized commodities and forex brokerage INTL FCStone Ltd as the buyer for the oil desks to be spun off.

To access the complete Reuters article hit the link below:

CMA says it accepts in principle steps taken in ICAP-Tullett deal

HSBC's first half profit skids 29 percent on Britain, Hong Kong slowdown

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts