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ICAP-Tullett deal said to face regulator query on licensing - Bloomberg

A sign is seen on an ICAP office in the City of London September 25, 2013. REUTERS/Toby Melville

(Reuters) - Interdealer broker ICAP Plc's IAP.L sale of its global hybrid voice broking business to Tullett Prebon Plc TLPR.L is likely to miss the year-end target as UK regulators are examining the licenses needed for the tie-up, Bloomberg reported.

The Financial Conduct Authority (FCA) is looking at the regulatory framework at what would become the world's largest voice broker, Bloomberg reported, citing people with knowledge of the situation. bloom.bg/2eb9Fjk

ICAP agreed to combine its voice broking businesses with Tullett in a 1.11 billion-pound deal last November.

“As previously stated, we aim to complete the transaction by the end of the year, subject to standard regulatory change of control consents,” ICAP said in an email statement.

Tullett Prebon declined to comment when contacted by Reuters.

The FCA was not available to comment outside of regular business hours in London.

Reporting by Pranav Kiran and Noor Zainab Hussain in Bengaluru

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