The proposed merger between UK broking houses Prebon Yamane and MW Marshall was scuppered last week by minority shareholder British Telecommunications (BT), an official confirms. BT would have held a 6 per cent stake in the merged group but was demanding a veto over future acquisitions and disposals, among other issues. The conditions were considered "unacceptable" by the currently privately-owned Prebon. Officials at both firms are said to be disappointed by the 11th hour breakdown of talks

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: