Last week the European Commission forced the London Stock Exchange and Deutsche Borse to call of their merger plans, in the wake of what have could been a $ 172 million pay-day for Investment Bankers.

The European Commission blocked the $24 billion deal on March 29, 2017, because of competition concerns, ending the 3rd attempt in 17 years, to unite the two financial enterprises. The merger would have created a monopoly reducing equal competition.

The EU’s decision to block the merger is a set back for Europe, for the Capital Markets Union and for the bridge between continental Europe and Britain.

Brexit played no role in the commissions’ decision to block the merger, although the nature of Britain’s future trading relationship with the EU remains unclear. Brussels regulators would maintain jurisdiction over merger attempts by any company that has a footprint in the European market.

London Stock Exchange / AA Magnum News 2017.

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