ICAP PLC The CMA said on Tuesday that it has not taken a final decision on the Tullett and ICAP deal. (http://bit.ly/2b0iU4T)
ICAP said in June that it had offered to sell its London-based oil desks to help address competition concerns over the merger of its global hybrid voice broking business with Tullett.
CMA said on Tuesday that the companies had proposed mid-sized commodities and forex brokerage INTL FCStone Ltd as the buyer for the oil desks to be spun off.
ICAP and Tullett declined to comment on the decision.
The companies last year agreed to the 1.11 billion pounds deal in a sector where trading volumes have shrunk due to regulation designed to rein in the riskier trading activities of their traditional investment bank clients.
Tullett expects to save at least 60 million pounds by eliminating duplicated management and support costs, with more savings expected over time.
Tullett said on Tuesday a fall in the value of sterling after Britain voted to leave the EU would have a positive impact on reported revenue.
The U.S. Department of Justice in July had also given its approval to the proposed restructuring of Tullett Prebon's acquisition of ICAP's voice-broking business.
(Reporting by Parikshit Mishra; Editing by Ruth Pitchford and Sunil Nair)
