EU probes proposed merger between Deutsche Bourse, LSE
BRUSSELS: The European Union (EU) yesterday launched an indepth investigation into whether the blockbuster attempt by the Frankfurt stock exchange to merge with its London exchange rival harms competition.
The LSE and Deutsche Boerse tie-up would create a financial markets behemoth competing with the likes of the Chicago exchange and ICE in the United States as well as the Hong Kong stock exchange.
The EU team, led by Competition Commissioner Margrethe Vestager, has 90 days to assess the merger.
In addition to the London market, LSE also operates the Milan stock exchange and the LCH Clearnet clearing house.
Deutsche Boerse operates the Frankfurt exchange, as well as the Luxembourg-based clearing house Clearstream and the derivatives platform Eurex. – AFP