A new 50/50 joint broking entity formed by Calyon Financial and Fimat could be completed by next year with the two parent companies believed to be in advanced discussions.
A source close to one of the companies involved said that such a merger would complement the two's existing businesses.
"There are discussions between the parent companies, who know each other well, but an MOU hasn't been formally signed," the source said.
"I understand that they are trying to unlock the true value of each entity, and so...