March 29, 2017 / 9:34 AM / 10 months ago

BRIEF-LSE Group says DB deal terminated; to initiate 200 mln stg share buyback

March 29 (Reuters) - London Stock Exchange Group Plc :

* Termination of merger following EC decision

* EC merger control condition to merger has become incapable of being satisfied and consequently, merger will not proceed to completion

* LSEG regrets commission’s decision to prohibit proposed merger and looks forward to reviewing detailed commission decision in due course.

* Does not agree with view that a business of LCH SA’s scale would not be a viable stand-alone competitor without concurrent sale of MTS

* As consequence of merger termination , proposed sale of LCH SA by LSEG and LCH Group to Euronext N.V. Will also terminate

* Believes proposed merger with Deutsche Börse in combination with LCH SA remedy would have preserved credible and robust competition in all markets

* LSEG looks forward to reviewing detailed commission decision to be published under article 8(3) regulation (EC) 139/2004 in due course

* LSEG is confident in its prospects as a standalone business

* Plans to initiate on-market 200 mln stg share buyback, amount broadly equal to return would have made had Deutsche Börse merger proceeded as planned

* Continues to be actively engaged in exploring selective inorganic and ongoing organic investment Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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