LSE shareholders will vote on the merger with Deutsche Borse

 

The shareholders of the London Stock Exchange (LSE) must vote on the proposed merger of some 27 billion euros with the German "Deutsche Borse" in July, after the referendum of 23 June on the future of the United Kingdom within the European Union.The two exchange operators had submitted in March their wedding plans, an operation aimed at creating a European player capable of competing with the major US market operators. They work since, to carry out the necessary steps to obtain all necessary approvals. The LSE is including the operator of the London and Milan stock exchanges and manages moreover the investment company and US indexes Russell Investments, while Deutsche Borse owns the Frankfurt Stock Exchange and the Luxembourg clearing house Clearstream and platform Eurex derivatives.According to the Financial Times, the merger will be finalized by the end of 2016 or at the latest in the first quarter 2017. This merger will create a leading group of global market infrastructure based in Europe. The union between the two exchanges will also allow to EUR 450 million in savings through synergies between the two groups.