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The planned merger between the London Stock Exchange and the Frankfurt-based Deutsche Börse is moving closer towards reality, despite concerns raised by Brexit and stock market competitors.
Shareholders in the London Stock Exchange Group (LSEG) have voted overwhelmingly for a merger with Deusche Börse despite post-Brexit concerns voiced by German regulators about the new entity being domiciled in London.
In a huge blow to London, Germany has said the city could not host the headquarters of a planned European stock exchange giant after Britain’s exit from the EU. It could also not remain a center for trading in euros.
The Brexit vote has not impacted the resolve of Deutsche Börse and the London Stock Exchange to push through their planned merger. They said the tie-up would be even more important now that Britain was leaving the EU.