EU blocks Deutsche Boerse's US$14b takeover of rival LSE

Brussels

EUROPEAN Union (EU) regulators dealt a final blow to Deutsche Boerse AG's planned takeover of London Stock Exchange (LSE) Group Plc, in a symbolic block on EU-UK integration on the same day Britain formally served notice of its decision to quit the EU.

The US$14 billion deal to create Europe's biggest exchange would have harmed competition in the soon-to-be 27-nation EU, by creating a de facto monopoly for clearing bonds and repurchase agreements, the European Commission said in a statement by e-mail on Wednesday.