A PYMNTS Company

Belgium: Finance minster warns against Deutsche Börse-LSE deal

By  |  July 11, 2016

Belgium’s Finance Minister said he was “deeply concerned” about the planned merger between Deutsche Börse AG and London Stock Exchange Group PLC, in a letter sent to the European Union’s Antitrust Chief Monday.

Belgian Finance Minister Johan Van Overtveldt expressed concern about the effect the merger would have on the financial stability of both the European and Belgian economies.

In the letter obtained by The Wall Street Journal, he said he believed the merger would negatively affect access to capital for smaller firms since the newly merged entity would be a “very dominant player” and “draw liquidity away from smaller markets such as Euronext Brussels.”

In addition, he said he was concerned the high level of concentration of trading and clearing in euros would be detrimental to competition and financial stability.

The Belgian minister’s concerns echoes similar previous comments made by French Finance Minister Michel Sapin.

The Financial Times reported the news of the letter earlier.

Full Content: Financial Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.