Wednesday, 28 September 2016

Stock exchange merger plan being investigated

The scheme would combine the stock exchanges of the UK, Germany and Italy and some big clearing houses to create Europe's largest exchange operator.

Commissioner Margrethe Vestager said it had to make sure that financial markets remained "competitive".

Shareholders of the LSE and Deutsche Boerse have already approved the plan.

The European Union's anti-trust watchdog says such a merger could eliminate competition in areas such as bonds, derivatives and repurchasing agreements.

Job losses

Each of the companies has more than 5,000 staff and in June, the LSE said that the merger could lead to as many as 1,250 job losses.

Read more here

SOURCE : BBC

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