London Stock Exchange-Deutsche Boerse Deal Blocked by EU
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Brussels - QNA
EU regulators have blocked London Stock Exchange's 21 billion pound merger with German stock exchange Deutsche Boerse, the (BBC) reported.
The European Commission said the deal would have created a "de facto monopoly" for certain financial services. The merger would have combined Europe's two largest stock exchange operators.
London Stock Exchange Group said it "regrets" the commission's decision, as the deal would have created a "world-leading" financial markets firm. The commission blocked the deal, which had already been thrown into doubt by Brexit, shortly before the UK started the formal process of leaving the European Union.
Margrethe Vestager, the EU commissioner in charge of competition policy, said: "The European economy depends on well-functioning financial markets. "That is not just important for banks and other financial institutions. The whole economy benefits when businesses can raise money on competitive financial markets."
Source: QNA
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