Deals
ICAP Buys Plus Markets’ Unprofitable Stock Exchange for 1 Pound
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ICAP Plc, the world’s largest broker of transactions between banks, said it will pay 1 pound ($1.60) to buy Plus Markets Group Plc’s stock exchange, which was scheduled to close after running out of money.
Plus, which has one of only five U.K. exchange licenses, will continue to hold conversations with other firms that may be interested in buying its other units, the London-based company said in a statement today. ICAP said in a separate statement it will “continue supporting and expanding” Plus’s stock-listings business, which is aimed at smaller companies.