Tullett Prebon said it is pleased the Competition and Markets Authority has accepted the undertakings proposed by the company and ICAP to divest ICAP's London-based EMEA oil desks to INTL FCStone Limited.
As a result, the CMA will not refer Tullett Prebon's proposed acquisition of the global hybrid voice broking and information business of ICAP (the "Transaction") to an in-depth Phase 2 merger investigation and therefore the Transaction has been cleared by the CMA.
Completion of the Transaction remains subject to approval by various regulatory bodies including the FCA and satisfaction of other closing conditions.
Tullett Prebon remains confident that the Transaction is on track to close in 2016.
At 12:18pm: (LON:TLPR) Tullett Prebon PLC share price was +4.75p at 377.35p