LSEG-Deutsche Boerse merger to press on despite Brexit

The London Stock Exchange will vote on its planned $30 billion merger with Deutsche Boerse on 4 July.

Deutsche Boerse and the London Stock Exchange have both stated the planned $30 billion merger will still go ahead following Britain’s vote to leave the EU.

The exchange groups stated that they do not believe the out one impacts ‘the compelling strategic rationale of the Merger’.

“The decision of the UK to leave the EU makes it ever more important to maintain and foster ties between the UK and Europe,” said Joachim Faber, chairman of the supervisory board of Deutsche Börse and chairman of the referendum committee. 

“We are convinced that the importance of the proposed combination of Deutsche Börse and LSEG has increased even further for our customers and will provide benefits for them as well as our shareholders and other stakeholders.”

LSEG shareholders will be asked to approve the merger on 4 July 2016 which will see two of Europe’s largest exchange groups come together.