CMA said it will open a consultation on the sale of the desks to FCStone
Icap plans to sell its London-based energy
desks to commodities broker FCStone to smooth the passage of
its proposed deal to sell-off its voice brokerage business to
rival Tullett Prebon.
The UK’s Competition and
Markets Authority said Icap and Tullett Prebon "have proposed
INTL FCStone as the buyer" of the two London oil desks which
warned in June would lead to a "substantial lessening of
competition" if they were sold to Tullett.
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