Icap close to deal
Icap, the interdealer broker, is near to buying EBS, a foreign exchange and commodities platform, for over $700 million (£392 million). The broker is thought to have edged ahead in an auction, although Icap has not yet been allowed to hold exclusive discussions. EBS was set up in 1993 by a group of 13 banks including HSBC and Barclays.
Rightmove float
Rightmove, the last remaining independent property website, is eyeing a flotation, which could value it at over £400 million. The website claims to have a 78 per cent share of the online property market with 10 million visits a month, although the Rightmove’s income was a relatively modest £3 million in the first half of last year.
Threat to LSE bid
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Hedge funds opposed to a bid for the London Stock Exchange now speak for about a quarter of the shares of Euronext, the continental exchanges operator, it has emerged, threatening to derail any offer for the LSE from Euronext. LSE shares slipped 17p to 698p.