Deadline for European competition probe into London Stock Exchange merger set to be extended
The European competition probe into the London Stock Exchange’s merger with Deutsche Boerse is set to be extended.
The European Commission currently has a deadline of 13 March to decide whether to give its backing to the £21bn deal.
Read more: Deutsche Boerse boss wants merger to bring Anglo-Saxon spirit to Europe
But this could be delayed by five days or more, with 3 April thought to be the absolute deadline, according to sources.
The deadline had previously been extended from 13 February by the European Commission.
Meanwhile, under the current timetable, the London Stock Exchange and Deutsche Boerse have a deadline of next Monday, 6 February, to submit suggested remedies to competition issues. After this date, the European Commission is due to begin a period of market testing.
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With the European Commission having focused its investigation on clearing, the current remedy on the table is for the London Stock Exchange to sell its French clearing arm, LCH SA, to pan-European exchange group Euronext.
It is not clear whether further remedies will be put forward by the exchanges.