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UK competition watchdog to probe LSEG takeover of Quantile – Metro US

UK competition watchdog to probe LSEG takeover of Quantile

FILE PHOTO: The London Stock Exchange offices in the City
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

LONDON (Reuters) – Britain’s competition watchdog will conduct an investigation into the London Stock Exchange’s acquisition of Quantile Group, it said on Tuesday.

LSEG said in December it had acquired Quantile for up to 274 million pounds ($338.64 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 that following an assessment of proposed undertakings by the two firms, it had decided to refer the merger for an “in-depth investigation”.

($1 = 0.8091 pounds)

(Reporting by Carolyn Cohn, editing by Sinead Cruise)

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