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EU Investigates LSE's Proposed Acquisition Of Refinitiv For Competition Concerns

The European Commission said it has opened an in-depth investigation, under the EU Merger Regulation, to assess London Stock Exchange Group's (LSE.L) proposed acquisition of US-based Refinitiv for competition concerns.

It was in August 2019 that the LSE agreed to acquire Refinitiv in an all share transaction for a total enterprise value of about $27 billion. The company received approval from the U.S. Committee on Foreign Investment in March.

In a statement, the EU said the Commission is concerned that the deal may reduce competition in trading and clearing of various financial instruments and in financial data products.

The Commission has preliminary concerns that following the proposed transaction, competitors in index licensing could be shut out from accessing Refinitiv's necessary input data.

The Commission now has 90 working days, until October 27, to take a decision.

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