Stock Groups

UK competition watchdog to probe LSEG takeover of Quantile -Breaking

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© Reuters. FILEPHOTO: London Stock Exchange Group offices can be seen in London City, Britain on December 29, 2017. REUTERS/Toby Melville

LONDON (Reuters – Britain’s competition watchdog, the Competition Watchdog of Britain said Tuesday that it will investigate Quantile Group’s purchase by London Stock Exchange.

LSEG announced in December that it had purchased Quantile at a price of up to 274million pounds (338.64 millions). This acquisition will allow LSEG to increase its portfolio of post-trade risks management solutions for banks, hedge funds, and other financial institutions dealing with derivatives.

According to the Competition and Markets Authority, the decision was made by it to refer the merger for further investigation after a thorough evaluation of the undertakings proposed by both firms.

($1 = 0.8091 pounds)

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