The European Commission has approved London Stock Exchange’s $27 billion (£20 billion) acquisition of Refinitiv. The Commission’s investigation discovered a number of concerns about the deal, however those could be addressed by a range of remedies.
One of the concerns is the €4.3 billion sale of Borsa Italiana to pan-European exchange Euronext and continued access to its clearing services and other data.
EU competition chief Margrethe Vestager commented:
Infrastructure competition in trading services and access to financial data products on fair and equal terms is essential for the European economy and in particular for consumers and businesses.
Today, we can approve the proposed acquisition of Refinitiv by LSEG because LSEG offered commitments that will ensure that the markets will remain open and competitive and the acquisition will not lead to higher prices or less choice and innovation for these products.