1/13, 2:27 PM (Source: TeleTrader)
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EU clears LSEG-Refinitiv deal on conditions

The European Commission announced on Wednesday that it has approved the acquisition of Refinitiv, a provider of financial market data and infrastructure, by the London Stock Exchange Group (LSEG).

The approval is conditional, the statement read, and added that the investigation into the deal between the two companies found that "the transaction, as initially notified, would have harmed competition." As ways to remedy the Commission's concerns, LSEG has proffered three commitments, including divestment of its 99.9% stake in Borsa Italiana Group.

"Infrastructure competition in trading services and access to financial data products on fair and equal terms is essential for the European economy and in particular for consumers and businesses. Today, we can approve the proposed acquisition of Refinitiv by LSEG because LSEG offered commitments that will ensure that the markets will remain open and competitive and the acquisition will not lead to higher prices or less choice and innovation for these products," Commission's Executive Vice-President Margrethe Vestager stressed.

Breaking the News / BU