March 28, 2017 / 9:46 AM / 5 months ago

EU's Vestager to hold news conference on Wednesday, likely focus on exchanges deal

A woman walks past the London Stock Exchange building in the City of London, Britain, January 16 , 2017.Toby Melville

BRUSSELS (Reuters) - EU antitrust chief Margrethe Vestager will hold a news conference on Wednesday, where she is expected to announce that she is blocking the proposed merger of Deutsche Boerse (DB1Gn.DE) and the London Stock Exchange (LSE.L).

Vestager's news conference will start at 11 a.m CET (0900 GMT), the EU executive said in a statement on Tuesday, without providing further details.

Last week, sources told Reuters that Vestager would on Wednesday lay out the case for stopping the fifth attempt by the two companies to create Europe's biggest exchange.

The British government is also due to start launch its procedure for leaving the European Union on Wednesday.

Last month, LSE set the stage for a negative decision by the EU competition enforcer when it rejected a demand to sell its MTS Italian trading platform.

Reporting by Foo Yun Chee; editing by Philip Blenkinsop

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