LSE takeover goes to Competition Commission

A statement issued yesterday by OFT chairman Sir John Vickers suggests neither takeover deal by Deutsche Borse or Euronext has so far managed to satisfy officials at the OFT that either deal will not lessen the competitive ability of the LSE to handle on-exchange trades when dealing with European equities. In particular, the OFT has decided, having read the terms of the acquisition offers, any takeover might affect the supply of on-exchange trading services for equities in the UK in both cases and could affect UK equity clearing. “The proposed bids for the LSE come at a time of emergi...