The OFT focused its inquiry on the impact of the merger on UK customers, in particular the impact on listing and equities trading. The watchdog concluded that no relevant competition concerns were raised.
“While a number of third parties raised concerns, these either did not relate to the prospect that the merger would substantially lessen competition in the UK, or were otherwise unpersuasive in light of the weight of evidence available,” the OFT stated.
Euronext has agreed to merge with NYSE, subject to the approval of shareholders. However, The Children's Investment Fund, which owns 10% of Euronext, said it was backing a rival bid from Deutsche Börse.
The week on Risk.net, July 7-13, 2018Receive this by email