The new Chief Executive of the London Stock Exchange, Xavier Rolet poses for photographers, in London February 13, 2009. The London Stock Exchange named former Lehman Brothers banker Xavier Rolet as its new Chief Executive, tasking him with tackling the twin challenges of rising competition and weak financial markets.London Stock Exchange CEO Xavier Rolet. REUTERS/Andrew Winning
(Reuters) - London Stock Exchange Group said on Sunday itbelieves the European Commission is unlikely to provide clearance for its merger with Deutsche Boerse AG after LSE's board concluded it would not be able to meet the regulator's demands.
LSE said in an emailed statement that the Commission had asked it to sell its stake in fixed income trading platform MTS to satisfy antitrust concerns over the merger of Europe's two largest stock exchange operators.
However, LSE said its board had concluded it could not commit to such a sale. The LSE said it would continue to take steps to gain merger approval.
Deutsche Boerse could not be reached for immediate comment.
LSE and Deutsche Borse agreed to combine last March in a deal that would create a market infrastructure giant worth at least £20 billion.
(Reporting by Ismail Shakil in Bengaluru; editing by Jason Neely)
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