The EU antitrust body has rejected a merger of Deutsche Boerse and London Stock Exchange - on the same day that Britain officially triggered the Brexit process.
The EU Competition Commission said the merger would have created a de facto monopoly in the markets for clearing fixed income instruments. Though the London Stock Exchange offered to sell the Paris arm of its clearing house to its rival, the regulators said it could determine whether the offer would have created a viable competitor.
The failure of the 29 billion euro merger comes as US and Asian rivals expand their market presence. The planned deal has also been affected by the British decision to leave the EU. German politicians called for the head office of the merged entity to be based in Frankfurt rather than London.
