{"id":72938,"date":"2016-08-02T15:46:11","date_gmt":"2016-08-02T15:46:11","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=ea1c3c48d30c4d001df68684d0c4b991"},"modified":"2016-08-02T15:46:11","modified_gmt":"2016-08-02T15:46:11","slug":"news-story-cma-consults-in-broker-merger","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=72938","title":{"rendered":"News story: CMA consults in broker merger"},"content":{"rendered":"<div class=\"govspeak\">\n<p>In June 2016 the Competition and Markets Authority (CMA) <a href=\"https:\/\/www.gov.uk\/government\/news\/cma-considers-undertakings-in-broker-merger\">announced<\/a> that <abbr title=\"Tullett Prebon\">Tullett<\/abbr> Prebon\u2019s (<abbr title=\"Tullett Prebon\">Tullett<\/abbr>) anticipated acquisition of <abbr title=\"ICAP plc\">ICAP<\/abbr> plc\u2019s (<abbr title=\"ICAP plc\">ICAP<\/abbr>) voice\/hybrid broking business may result in a substantial lessening of competition and would be referred for an in-depth phase 2 investigation unless acceptable undertakings were offered.<\/p>\n<p>To address the CMA\u2019s concerns the companies have offered to sell <abbr title=\"ICAP plc\">ICAP<\/abbr>\u2019s London based oil desks responsible for providing broking services to customers based in Europe, the Middle East and Africa to an up-front buyer approved by the CMA. <abbr title=\"Tullett Prebon\">Tullett<\/abbr> and <abbr title=\"ICAP plc\">ICAP<\/abbr> have proposed INTL FCStone Limited as the buyer of these oil desks.<\/p>\n<p>The CMA considers that the <a href=\"https:\/\/www.gov.uk\/cma-cases\/tullett-prebon-icap-merger-inquiry\">proposed undertakings<\/a> are appropriate to remedy its competition concerns, and has accepted them in principle. However, before reaching a final decision, it is inviting interested parties to make their views known.<\/p>\n<p>Anyone wishing to respond to this consultation should do so in writing, no later than 17 August 2016 to Carole Bowley (<a href=\"mailto:carole.bowley@cma.gsi.gov.uk\">carole.bowley@cma.gsi.gov.uk<\/a>).<\/p>\n<p>The consultation on the undertakings and all other information relating to this investigation can be found on the <a href=\"https:\/\/www.gov.uk\/cma-cases\/tullett-prebon-icap-merger-inquiry\">case page<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The CMA has accepted in principle merger undertakings offered by Tullett and ICAP and is inviting comments.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/72938"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=72938"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/72938\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=72938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=72938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=72938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}