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London Stock Exchange: UK shareholders ok for merger with Frankfurt

Green light to the operation from the shareholders of the London Stock Exchange - 99,89% of the participants in the vote voted in favor of the operation

London Stock Exchange: UK shareholders ok for merger with Frankfurt

Despite Brexit, shareholders of the London Stock Exchange Group have almost unanimously approved the merger with Deutsche Boerse, aimed at creating a major European stock exchange. 99,89% of voters voted in favor of the operation.

The company that manages the London market, like the German one, has decided to proceed with the merger despite the British vote for the United Kingdom to leave the European Union.

On the other hand, the German financial authority, Bafin, has made it known that it considers it difficult that the subject that will arise from the merger between LSE and Deutsche Boerse can be based in London.

"It is difficult to imagine that the most important exchange in the European area is directed away from the European Union," explained the president of Bafin, Felix Hufeld, according to reports from the German agency Dpa.

Bafin has no role in the authorization process for the operation, but news is expected from many quarters. Last March, the two financial centers announced their intention to merge and in the aftermath of the Brexit referendum they confirmed that the conditions would remain unchanged.

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