London Calling says it must!
In February 2012, the PLUS markets group plc announced it would be selling its stock exchange, PLUS-SX. Set up six years ago in London as a “halfway house for small companies between staying private and getting a quote on AIM”, the exchange was then on the verge of collapse. Indeed, some of its 156 listed outfits had already called it a day, though most of the miners among them – until mid-May – still tried staying the course.
Then, just last week, British inter-dealer broker ICAP Plc announced it had reached an agreement to buy PLUS-SX. This would be dependent on approval by PLUS group shareholders, and on clearance from the UK financial regulator, the Financial Services Authority (FSA). But it’s a clearance the Authority certainly shouldn’t grant.
See http://www.minesandcommunities.org/article.php?a=11726.