TP ICAP in talks to buy electronic trading network Liquidnet

(Reuters) - TP ICAP TCAPI.L, the world's biggest inter-dealer broker, said on Tuesday it was in advanced talks to buy electronic trading network Liquidnet Holdings Inc for $600 million to $700 million.

The London-based company said the acquisition, whose consideration comprises about $550 million of upfront payment, is expected to add to earnings from the third year after the deal closes.

Liquidnet’s revenue growth is expected to increase from low-single digit to mid-single digit over the medium-term, TP ICAP said in a statement.

If shareholders approve the deal, TP ICAP intends to pay half of the 94 million pounds ($120.85 million) dividend currently anticipated for the year ending Dec 31.

Reporting by Aby Jose Koilparambil and Ann Maria Shibu in Bengaluru; Editing by Anil D’Silva and Devika Syamnath