European regulators cleared the blockbuster £20 billion takeover of data firm Refinitiv
European regulators have finally cleared the blockbuster £20 billion takeover of data firm Refinitiv by the London Stock Exchange (LSE) paving the way for the LSE to form a powerhouse in financial markets.
The green light was the last major hurdle in a tie-up originally announced in August 2019, which is set to make the advisers and investment bankers who worked on it more than £830 million.
However the European regulators said their approval was conditional on the LSE selling Italian exchange, the Borsa Italiana, continuing to distribute certain clearing services free of barriers, and maintaining competitors’ access to LSE data and FTSE indices such as the FTSE 100.
Commission executive vicepresident Margrethe Vestager said: ‘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.’