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ERNST & YOUNG AND KPMG TO ANNOUNCE MERGER TALKS

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KPMG and Ernst & Young are expected to announce today that they are in formal talks to merge the firms amd create t...
KPMG and Ernst & Young are expected to announce today that they are in formal talks to merge the firms amd create the world's largest professional services group with combined revenues of more than£9.8bn, the Financial Times reports (p19).

The merger will have to be scrutinised by financial regulators, particularly in Brussels, Washington and Tokyo, and will need the backing of the majority of partners in the firms in each of the countries in which they operate.
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