UBS Warburg and Lazard are taking a second stab at negotiating a merger between their UK television broadcaster clients Carlton and Granada.

Carlton is using long-term adviser UBS Warburg on the talks, and Lazard is working for Granada, which is also a long-term advisory relationship dating back several years. Both advisers were trying to negotiate a merger between the two companies early this year, but the talks were terminated in February. In addition, rumours about the broadcasters planning to join forces were circulating around the market for significantly longer.