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KPMG CONSIDERS GLOBAL FLOAT TO TAP CAPITAL MARKETS

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KPMG is considering a plan to float 20 per cent of its global management consulting business, reports the Financial...
KPMG is considering a plan to float 20 per cent of its global management consulting business, reports the Financial Times (p29).

It is the first attempt by a 'Big Five' firm to gain access to the world capital markets, a move likely to face tough regulatory hurdles in Brussels and Washington because it could affect auditor independence.

Mike Rake, a senior partner at the UK firm, said a decision was likely in the 'spring to early summer'.

KPMG earned fees of $3bn (£1.8bn) worldwide in 1998, up 30 per cent from the previous year.
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