Deutsche Boerse expects EU statement of objections to London Stock Exchange merger before Christmas

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

Deutsche Boerse expects the EU competition regulator to publish a statement of objections to the company’s £21bn merger with the London Stock Exchange next month.

The German firm’s chief executive Carsten Kengeter said he expects the European Commission to make the intervention in the second week of December.

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The European Commission is seen as presenting the biggest challenge for the London Stock Exchange and Deutsche Boerse as they seek to tie up their deal, which was agreed in March and represents their third attempt to merge in two decades.

In anticipation of EU scrutiny, the London Stock Exchange Group has put its French clearing house, LCH Clearnet SA, up for sale.

An LCH deal, which would be dependent on the bigger merger completing, is expected to be agreed in December or January, with Euronext seen as the frontrunner.

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The European Commission opened a full investigation into the London Stock Exchange-Deutsche Boerse deal in September.

And Kengeter told Reuters today: “They [the European Commission] will come in the second week of December with the so-called statement of objections. That will be the next data point really.”

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