71.   Glocer said the group had completed its acquisition of Bridge, the North American equities information business, and floated a minority interest in Instinet, the electronic brokerage.

72.   In Europe, the company has committed significant additional resources to its investment banking activities over the past two years, including the launch of a UK equities business.

73.   In Europe, the group has committed significant additional resources to its investment banking activities over the past two years, including the launch of a UK equities business.

74.   Meanwhile, a conflict is looming between liquidators and executives about whether the equities business should be broken up to help selling efforts.

75.   Mr Jamieson believes the new equity business could be profitable this year.

76.   Mr Leung said he expected Mr Tose to retire but to continue to assist him in an advisory capacity in the reborn Peregrine Greater-China equity business.

77.   NatWest has also sold part of its Asian equities business to Deutsche Morgan Grenfell.

78.   Mr Hague said the closing of tenders for the equities business and the asset-management unit have been delayed because of continuing interest from potential investors.

79.   Mr Jamieson said he was still trying to locate buyers interested in the other geographical units of the equity business.

80.   Mr Hague said he did not expect any opposition from Peregrine executives to the sale of the equity business.