London Stock Exchange dismisses concerns Deutsche Boerse merger would mean "shackling itself to a corpse" after Brexit

 
William Turvill
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The London Stock Exchange and Deutsche Boerse agreed a £21bn merger in March (Source: Getty)

The London Stock Exchange dismissed concerns from a shareholder that it was “shackling itself to a corpse” by merging with Deutsche Boerse after the UK voted for Brexit.

The LSE today held an extraordinary general meeting for investors to vote on its proposed £21bn merger.

LSE chairman Donald Brydon told the meeting that he was confident of “satisfactory” regulatory approval for the deal from the EU, adding: “There is no reason to think otherwise today.”

Read more: LSE shareholders set to back £21bn merger – but regulatory hurdles await

This morning’s meeting was attended by around 50 shareholders, according to Reuters, which reported that one, Dinesh Jain, asked why, after Brexit, “do we want to shackle ourselves to a corpse”.

He also suggested the deal should be abandoned because it is “unlikely” to be approved in Germany and said deals should instead be sought in Asia or Latin America.

The result of the LSE meeting is set to be announced on Monday afternoon.

4 July 2016 @ 12:45pmLondon Stock Exchange Group (LSE)

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