JLL and Savills both yesterday distanced themselves from speculation that a merger could be on the cards.

The Telegraph yesterday suggested that JLL could have the acquisition of Savills in its sights, running its story under the headline: “US giant homes in on Savills as target”.

The story quoted JLL boss Christian Ulbrich as saying he had never seen a market with so many availabilities with regard to mergers and acquisitions.

However, both JLL and Savills said they never commented on rumours.