French bank Societe Generale has said it expects to reach a final agreement during the first half to merge its Fimat broking and investment banking arm with futures and options brokerage Calyon Financial.
Reuters quoted Societe Generale board member Philippe Collas as promising a final deal within the first half of the year.
In January, Calyon Financial, which is owned by French bank Credit Agricole and Fimat said they were considering merging their derivatives businesses into a 50/50 joint venture.