Probe announced into London Stock Exchange bids
Shares in the London Stock Exchange fell more than 5% today after the competition watchdog announced a probe into rival takeover approaches for the group.
The Office of Fair Trading said it was referring the proposals of German stock exchange Deutsche Boerse and pan-European exchange Euronext to the Competition Commission.
In two separate statements announcing the referrals, the OFT did not give reasons for its action.
However, its review in the last two months has focused on whether the potential takeovers would substantially reduce competition in the financial services market.
Shares in the LSE fell 24p to 450p shortly after the OFT’s announcement.
