Icap confirms EBS approach; FX platform expects more than one bidder

Icap said discussions were still at an early stage, but newspaper reports have speculated that the sale could be worth as much as $700 million. EBS said it was in discussions with a number of parties. These are thought to include Nasdaq, Euronext and interdealer broker Collins Stewart Tullett.

A broking source said a turning point was reached on January 18 when the EBS board approved in principal to sell the business to Icap. Icap said last November that it planned to expand its electronic

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