(Alliance News) - LSL Property Services PLC and Countrywide PLC confirmed Monday they are in discussions over a possible all-share merger.
Shares in LSL Property were down 0.4% in London on Monday morning at 339.70 pence each, Countrywide was trading 3.7% lower at 327.77p.
Sky News reported on Sunday the two estate agents were planning a tie up, but, on Monday, the pair said discussions are "ongoing" and stressed there can be no certainty any offer will be made.
LSL is now required to make its intentions clear by March 23, by announcing a firm plan to make an offer or back away.
By Paul McGowan; paulmcgowan@alliancenews.com
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