The European Commission has decided to block the merger of exchanges Deutsche Börse AG and NYSE Euronext, a person familiar with the discussions said Wednesday.
The EU's 27 commissioners were discussing the decision at a meeting Wednesday morning.
"The EU has adopted its position as opposed," the person said.
The person said European Financial Markets Commissioner Michel Barnier made a formal declaration to the meeting minutes stating his view. Mr. Barnier has reportedly been more favorable to the deal.
The Commission was widely expected to decide against the deal.
European Competition Commissioner Joaquin Almunia has said the combined businesses would dominate Europe's on-exchange derivatives trading, giving the proposed new company a 93% market share.
He rejected a call by the exchanges for the review to include derivatives that are traded over-the-counter rather than only those on exchanges, which would effectively reduce their total market share to below 15% in Europe and below 4% world-wide.
read more: Olympus Wealth Management
No comments:
Post a Comment