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Deutsche Boerse, LSE merger struck down

Wednesday, March 29, 2017 - 00:56

An attempted merger between the German and British stock exchanges was struck down by European regulators on Wednesday, formally ending a deal that unravelled in the wake of Britain's vote to leave the European Union. Laura Frykberg reports

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It's their fifth attempt to merge. And Europe's competition commission says it's their last. Blocking Germany and London from combining their stock exchanges.. to create the largest in Europe. (SOUNDBITE) (English) EUROPEAN COMPETITION COMMISSIONER, MARGRETHE VESTAGER SAYING: "The commission cannot allow the creation of monopolies. And this is what would have happened in this case." Selling an Italian arm of the London Stock Exchange Would have removed the Commission's concerns. But the LSE declined to do so. Industry sources say the merger is also is ill-timed. With Brexit negotiations now underway. Further complicating the picture, the man set to lead a new merged entity, would have been Deutsche Boerse's CEO, Carsten Kengeter. Who's now under investigation for, insider trading.

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Deutsche Boerse, LSE merger struck down

Wednesday, March 29, 2017 - 00:56