Talks continue at MMI, KNH Options

Discussions are continuing between KNH Options - a London company - and MMI over the proposed acquisition of the Irish brokerage. KNH is a market-marker in the London equity market and is believed to have asked Ernst & Young accountants to undertake an examination of MMI's finances, prior to the conclusion of any deal. Some other issues surrounding the acquisition are also being clarified by KNH, before it finally commits itself to complete the transaction.

KNH is understood to be one of MMI's major creditors from the Irish company's dealings in the London market. Its shareholders are three individual financiers and two financial institutions.