Shore Capital in talks to buy rival Stockdale Securities

City stockbroker Shore Capital confirmed on Monday that it is in talks about a potential acquisition of rival Stockdale Securities.

In the statement, which followed a Sky News report over the weekend, Shore said there can be no certainty that a transaction will be concluded. A further announcement will made in due course.

Sky said on Sunday that the two were in advanced talks and a deal could be signed as soon as next month.

The acquisition, the price of which was said to be a "multi-million pound sum", would create the second-largest broker to clients on London's junior AIM market.