Deutsche Boerse CEO expects EU objections in mid-December

EghtesadOnline: Deutsche Boerse expects to hear what objections the European Commission has to its planned merger with London Stock Exchange in the second week of December, the German firm's chief executive said on Tuesday.

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22 November 2016

"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," Carsten Kengeter said on the sidelines of a digital conference in Berlin.

According to Reuters, the European Commission opened a full investigation into the 27 billion euro ($28 billion) planned merger with London Stock Exchange in September, citing preliminary worries.

LSE has already said it is prepared to sell LCH SA, the French clearing subsidiary of the LSE's LCH.Clearnet group, but has not made a formal offer to the Commission.

The statement of objections usually lays out the case for the EU enforcer to block anti-competitive mergers unless companies can convince them otherwise with concessions.

The Commission is scheduled to decide by Feb. 13 on the deal, which can be extended once the exchanges offer any remedies.