UK competition regulators have rubber-stamped their approval of the £1.1 billion sale of Icap's voice broking business to Tullett Prebon, after deciding that the firms' offer to sell Icap's London-based oil desks was a sufficient step to assuage their concerns.

The September 8 announcement by the UK's Competition and Markets Authority comes after the regulator received no views on the issue from market participants during a consultation period after indicating on August 2 it had been minded to wave through the deal on those revised terms.