Brussels — EU regulators dealt a final blow to Deutsche Börse’s planned takeover of London Stock Exchange (LSE) Group, a symbolic block on EU-UK integration — on the same day Britain formally served notice of its decision to quit the EU. The $14bn deal to create Europe’s biggest exchange would have harmed competition in the soon-to-be 27-nation EU by creating a de facto monopoly for clearing bonds and repurchase agreements, the European Commission said in an e-mailed statement Wednesday. The decision, flagged last month by LSE, thwarts Deutsche Börse’s expansion just five years after the EU also banned a proposed tie-up with NYSE Euronext. "The commission cannot allow the creation of monopolies, and that is what would have happened in this case," Margrethe Vestager, the EU’s anti-trust commissioner, told reporters in Brussels. LSE was "not prepared" to sell a small unit that would have removed concerns that the combined firm could have weakened rival Euronext. EU regulators have bec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.