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Tullett talks end with no deal

INTERDEALER broker Tullett Prebon has said that talks with a possible buyer for the company had terminated.

In March the firm revealed it was in preliminary negotiations that might lead to an offer, boosting its shares. That potential suitor has not been identified.

The company said in a statement: "These discussions have been constructive, however, it has not been possible to reach agreement on the terms of any offer."

Tullett, which acts as a middleman in derivatives trades between investment banks, also said revenue was down 12 per cent to £312m for the four months to April from a year ago.

But the company described its position as “strong”.