EU: London Stock Exchange says merger with Deutsche Boerse on track

The London Stock Exchange Group stuck to its guns on Wednesday over its planned merger with Deutsche Boerse saying the deal would be derailed by neither regulators nor any British exit from the European Union.

In its first annual shareholder meeting since mapping out a plan in February to create a $30 billion cross-border exchange group, the group tried to ease concerns over the tie-up.

Analysts have questioned whether EU competition regulators would approve the deal given the large presence the merged group would have in clearing derivatives trades.

“We wouldn’t be embarking on a merger if we thought there would be any problems,” LSEG Chairman Donald Brydon said in response to a shareholder’s question on clearing.

Britain, home to Europe’s biggest financial center, votes on June 23 on whether to remain in the EU. Any vote in the referendum to leave the bloc could create major uncertainty for the country’s financial services industry.

Full Content: Reuters

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