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Gulf Merchant Bank eyes bid for Plus exchange

Dubai-based Gulf Merchant Bank will make an offer for Plus Stock Exchange, the stock exchange unit of the struggling PLUS Markets Group, which could scuttle the junior London market's sale to interdealer broker ICAP, the Financial Times has reported. The offer would be "substantially in excess of that announced by ICAP," the lender said. ICAP announced earlier it would buy Plus Stock Exchange for a nominal one pound.