LSE says EU unlikely to approve Deutsche Boerse merger

A worker shelters from the rain as he passes the London Stock Exchange in the City of London. - Reuters filepic

LONDON: London Stock Exchange Group Plc said on Sunday it believes the European Commission is unlikely to provide clearance for its merger with Deutsche Boerse AG 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.

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.

Deutsche Boerse could not be reached for immediate comment. - Reuters