EU regulators to clear London Stock Exchange’s $27bn Refinitiv deal
EU competition regulators are reportedly set to clear London Stock Exchange’s $27bn (£20.3bn) takeover of Refinitiv.
LSE last month offered to provide rivals with access to clearing and data for 10 years as part of its bid to win over antitrust authorities.
It came as part of a package submitted to the European Commission that included the sale of Borsa Italiana to pan-European exchange Euronext.
EU chiefs will now give the green light to the mammoth merger, Reuters reported, citing people with knowledge of the matter.
The European Commission declined to comment.
Regulatory approval would clear the way for the blockbuster all-share deal, which will see Refinitiv owner Blackstone take a stake in LSE.
The planned merger has come under fierce scrutiny from European authorities over concerns it would give LSE too much control over market data, allowing it to give preferential treatment to customers or block out rivals completely.
They also cited worries about the impact on areas such as clearing and derivatives trading.
In a package of remedies last month, LSE pledged to grant non-discriminatory access to competitors.
The exchange also said that its €4.3bn sale of Borsa Italiana would contribute significantly to addressing competition concerns.
LSE boss David Schwimmer has said the deal reflects the increasing power of data in the modern financial markets landscape, adding it would expand the group’s presence in US, Asia and emerging markets.
It comes just days after S&P Global said it has agreed to buy analytics group IHS Markit in a $44bn megal-deal.
The all-stock deal, which would create a new financial services giant, is also likely to attract the attention of regulators.