Deutsche Boerse Reaffirms Plan to Buy LSE After Brexit Vote
(This article originally appeared on Bloomberg)
Deutsche Boerse AG and London Stock Exchange Group Plc, whose planned combination is among the biggest deals between European companies right now, reiterated that they will proceed with the tie-up despite the U.K.’s decision to leave the European Union.” LSE’s shares slumped 13 percent to 2,375 pence at 8:29 a.m. in London, giving the exchange operator a market capitalization of $12.9 billion. Deutsche Boerse’s stock dropped 7.1 percent to 75.83 euros in Frankfurt.
The total value of UK financial services exports remained stable in 2020.
Temporary equivalence was set to expire on June 30, 2022.
The Bank has new powers for reviewing CCPs following Brexit.
Restricting access to London CCPs would result in collateral damage for EU banks and end users.
The review is an opportunity to recalibrate MiFID II regulations post-Brexit.