A large stock exchange or a private equity group are among the more likely bidders for inter-dealer broker Tullett Prebon, which said this morning that it was "in preliminary discussions with a third party" that could lead to a sale of the company, according to analysts and bankers.

The board of Tullett Prebon announced to the stock exchange that it was "in preliminary discussions with a third party which may or may not lead to an offer being made for the entire issued share capital of the company." The announcement came after reports named Australian investment bank Macquarie, Bank of China and rival New York-based broker GFI as potentially interested parties.