EU faces lawsuit from Deutsche Boerse over deal

DEUTSCHE Boerse plans to sue the European Commission for blocking its $9bn (£5bn) merger with NYSE Euronext, to recoup merger costs and keep the door open for future deals in the derivative markets.

The European Commission’s antitrust authorities blocked the tie-in last month, saying it would have led to a near-monopoly in European financial derivatives worldwide.

“Deutsche Boerse is of the view that several aspects of the decision are incorrect,” the operator of the Frankfurt stock exchange said in a statement yesterday.

The exchange group would not comment on the lawsuit beyond its statement, but chief executive Reto Francioni said last month that an appeal might force European regulators to change their definition of the derivatives markets, which does not include over-the-counter trading.

European regulators did not take into account the over-the-counter derivatives market when assessing the antitrust implications of the proposed deal.

Deutsche Boerse said yesterday it would bring the suit before the European court in Luxembourg. NYSE Euronext declined to comment.