Brussels to probe £21bn exchanges merger deal

The European Commission has said it will open an investigation into the £21 billion merger between the London Stock Exchange (LSE) and Germany’s Deutsche Borse.

Commissioner Margrethe Vestager said the decision was made in order to ensure financial market infrastructure remains competitive.

She said: “Financial markets provide an essential function for the European economy. We must ensure that market participants continue to have access to financial market infrastructure on competitive terms.”

Both LSE and Deutsche Borse’s shareholders have backed the merger, but it has been complicated by Britain’s decision to quit the EU.

The LSE has said that to address anti-trust concerns it will look to offload its French subsidiary LCH.