CASE COMMENTS: MERGERS – FINANCIAL SERVICES - MARKET POWER – NEGATIVE CLEARANCE – IN-DEPTH INVESTIGATION

Negative clearance: The European Commission prohibits a merger in the financial markets (Deutsche Börse / London Stock Exchange)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. By Decision M.7995, Deutsche Börse / London Stock Exchange, of 29 March 2017, the European Commission has declared the proposed concentration by which the two previously independent undertakings Deutsche Börse AG (³cDBAG³d) and London Stock Exchange Group plc (³cLSEG³d) intend to merge, within the meaning of Article 3(1)(a) of the Merger Regulation, incompatible with the internal market and with the functioning of the Agreement on the European Economic Area. The Commission's decision to prohibit the proposed transaction follows numerous other unsuccessful attempts at consolidation by the parties. A first merger project had been envisaged by the

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Emily Xueref-Poviac, David Tayar, Negative clearance: The European Commission prohibits a merger in the financial markets (Deutsche Börse / London Stock Exchange), 29 March 2017, Concurrences N° 4-2017, Art. N° 85206, pp. 129-130

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