Tullett Prebon PLC (TLPR.L)
27 Nov 2015
Nov 12 - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
British interdealer brokers Tullett Prebon Plc and ICAP Plc have agreed to combine their voice broking businesses in a 1.11 billion-pound ($1.68 billion) deal to better compete in a sector where trading volumes have shrunk.
* ICAP shares rise 7 pct, Tullett down 9 pct (Adds details, CEO, analyst comment, updates share price)
* Agreed terms with Tullett Prebon for disposal by ICAP of its global hybrid voice broking and information business to Tullett Prebon Source text for Eikon: Further company coverage:
Nov 11 Interdealer broker Tullett Prebon Plc said it would acquire ICAP Plc's global hybrid voice broking and information business for about 1.11 billion pounds ($1.68 billion) in stock.
* To acquire ICAP's global hybrid voice broking and information business
Rival British interdealer brokers ICAP and Tullett Prebon are in talks to combine their businesses, the companies said on Friday, as they seek to combat falling profits in a sector struggling with shrinking trading volumes.
* ICAP would own minority stake in the enlarged Tullett Prebon
* Confirms that it is in discussions regarding possible sale to Tullett Prebon of ICAP's global broking business
* Notes recent press speculation and confirms that it is in discussions with Icap Plc regarding possible acquisition by tullett prebon of Icap's global broking business