P521ORACLE 521 Mon24 Feb C4 1702:08
EXCO, MORGAN GRENFELL
IN MERGER TALKS
Money broking and financial services
group Exco International and merchant
bankers Morgan Grenfell could be
heading for a £1bn merger.
A statement said exploratory talks were
taking place between them and a further
statement was promised "in due course".
A merger between the companies would be
subject to Bank of England approval.
Morgan Grenfell is currently advising
Guinness on its bid for Distillers,
Utd Biscuits in its offer for Imperial,
and Rank, which wants to buy Granada.
City headlines 500 Newsfile 520
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