Reuters logo
BRIEF-LSE says it believes European Commission unlikely to provide clearance for Deutsche Boerse merger
February 26, 2017 / 9:09 PM / 9 months ago

BRIEF-LSE says it believes European Commission unlikely to provide clearance for Deutsche Boerse merger

Feb 26 (Reuters) - London Stock Exchange Group Plc

* Update on the European Commission phase ii proceedings

* On feb 16, commission raised new concerns about viability of lch sa remedy in relation to access to bond, repo trading feeds provided by MTS SPA

* Merger parties presented improved remedy to complement divestment of LCH SA, which addressed the commission’s specific concerns

* Improved remedy was rejected by the European Commission

* Commission required parties commit to divestment of LSEG’s majority stake in mts to secure clearance for merger with Deutsche Boerse Ag

* Commission requested that parties submit remedy proposal for divestment of LSEG’s majority stake in MTS by 12pm (cet) on feb 27

* Following dialogue with Italian authorities, LSEG board believes it is highly unlikely that sale of MTS could be satisfactorily achieved

* Board today concluded that it could not commit to the divestment of MTS, therefore not be submitting remedy proposal with respect to mts

* LSEG believes that the European Commission is unlikely to provide clearance for merger with Deutsche Boerse Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below