Saturday, Jul 23, 2016
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Stock Market

Objection filed in major stock exchange merger

BRUSSELS — Deutsche Boerse AG said yesterday it received a statement of objections against its planned merger with NYSE Euronext from the European Union’s competition watchdog.

The operator of the Frankfurt stock exchange said it regarded the statement as a “normal step” that “does not prejudge the final outcome of the case.”

The statement sets out competition issues with the merger that the parties can offer to remedy, for instance, by opening certain services to competitors or selling off businesses.

Deutsche Boerse said the two exchanges were still working to “complete the transaction by the end of this year.” Deutsche Boerse said in February it would buy NYSE Euronext for $10 billion, creating the world’s largest exchange operator.

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