Plus Market Reverse Takeover Talks End

Reuters reports this morning that Plus Markets has ended reverse takeover talks with an unamed partner that people familiar with the situation said was Project Turquoise, leaving the bank-led trading platform to pursue its delayed launch independently. The talks ended because the deal failed to deliver sufficient benefits to all its existing shareholders. It never disclosed with whom it had been talking. Click here for the report.

A report in yesterday's Independent states that "the project looks more red-faced than turquoise."

A Reuters' news story says Exchange industry watchers had expressed reservations about the deal because Plus focuses on small companies while Project Turquoise is targeting the biggest stocks in Europe.