24th Mar 2016 16:31
LONDON (Alliance News) - ICAP PLC on Thursday said its shareholders have approved the sale of its hybrid voice broking and information business to Tullett Prebon PLC, which earlier confirmed that its shareholders had approved the move.
In a statement, the markets operator said votes in favour of the sale of the division, which was announced in November, represented practically all of its shares.
The remaining ICAP businesses will include the company's exchange-like electronic platforms, EBS and BrokerTec, its post trade risk mitigation businesses, TriOptima and Reset, transaction processing business Traiana, equities exchange ISDX, and financial technology incubator Euclid.
The deal still requires regulatory and competition approval. "Subject to satisfaction of the conditions to completion the company continues to anticipate that the transaction will close in 2016," Tullett said.
Shares in ICAP were down 0.3% at 462.80 pence at the close Thursday. Shares in Tullett were down 0.7% at 351.70p.
By Samuel Agini; [email protected]; @samuelagini
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