A potential merger of ICAP Shipping and Howe Robinson has once again thrown up the potential for UK tycoon Michael Spencer to end FTSE 250-listed ICAP plc’s investment in shipbroking.
Broking sources suggest a deal could pave the way for ICAP plc to exit shipping but a complete departure is not on the cards right now.
After merger talks were confirmed this week, ICAP chief executive Spencer told Reuters: “We think its profitability would be much greater.
