EU probes pro­posed merger be­tween Deutsche Bourse, LSE

The Sun (Malaysia) - - SUNBIZ -

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

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