Plus Markets chooses Icap over GMB

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The Independent Online

London's struggling stock-exchange minnow Plus Markets yesterday urged shareholders to stick with Michael Spencer's Icap despite Dubai's Gulf Merchant Bank taking a second bite at the business.

Plus, home to 156 companies, was in initial discussions over a deal with GMB, but the talks foundered. Icap bought loss-making Plus for a nominal £1 before GMB re-entered the fray with another proposal this week. But Plus said GMB's terms were less attractive than Icap's.