London Stock Exchange Group said on Sunday it believes the European Commission is unlikely to provide clearance for its merger with Deutsche Boerse after LSE’s board concluded it would not be able to meet the regulator’s demands.
LSE said in an emailed statement that the Commission had asked it to sell its stake in fixed income trading platform MTS to satisfy antitrust concerns over the merger of Europe’s two largest stock exchange operators.
The request from EU watchdogs on February 16 was an unexpected demand on the companies, but the LSE said it would not be able to submit a proposal to sell MTS, an Italian-based venue, by midday central European time on Monday.
“Based on the [European] Commission’s current position, LSEG believes that the commission is unlikely to provide clearance for the merger,” the UK company said.
However, LSE said its board had concluded it could not commit to such a sale. The LSE said it would continue to take steps to gain merger approval.
Full Content: Bloomberg
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