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UK competition watchdog sets deadline for LSEG takeover of Quantile

UK competition watchdog sets deadline for LSEG takeover of Quantile
UK competition watchdog sets deadline for LSEG takeover of Quantile   -   Copyright  Thomson Reuters 2022
By Reuters

LONDON – Britain’s competition watchdog said on Tuesday that the London Stock Exchange Group and Quantile Group have until May 10 to offer acceptable undertakings to avoid an in-depth investigation into their merger.

LSEG said in December it had acquired Quantile for up to 274 million pounds ($343.49 million) to expand its range of post-trade risk management solutions to banks, hedge funds and financial institutions trading derivatives.

The Competition and Markets Authority said on Tuesday that “it is or may be the case that the following merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.”

LSEG said it continues to engage constructively with the CMA and other regulatory authorities, and expects to close the transaction in 2022, subject to the relevant approvals.

($1 = 0.7977 pounds)