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Deutsche Boerse, LSE plan further concession for EU merger approval: sources
February 21, 2017 / 9:41 PM / 9 months ago

Deutsche Boerse, LSE plan further concession for EU merger approval: sources

(Reuters) - Deutsche Boerse AG (DB1Gn.DE) and the London Stock Exchange Group Plc (LSE.L) are planning further concessions to satisfy the European Commission’s concerns about their planned merger, two sources familiar with the matter said on Tuesday.

The German share prize index (DAX) board and the trading room of Frankfurt's stock exchange (Boerse Frankfurt) are photographed with a circular fisheye lens during afternoon trading session in Frankfurt, Germany, February 23, 2016. REUTERS/Kai Pfaffenbach TPX IMAGES OF THE DAY - RTX287VV

The antitrust regulator informed the companies after a market test that their offer to sell their French clearing business LCH.Clearnet SA was not enough to win them an approval, the sources said.

As part of the plan, one of the companies is looking to dispose its repo and cash bond clearing business, one source added.

Both companies said earlier that they will sell LSE’s Clearnet SA to Euronext if the merger is approved by regulators .

Deutsche Boerse declined to comment while the LSE was not immediately available.

News of the two exchanges discussing further offerings was earlier reported by the Financial Times.

Reporting by Andreas Kroener in Frankfurt, Foo Yun Chee in Brussels and Ismail Shakil in Bengaluru

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