EU-U.K. Not Today’s Only European-British Split

Brussels calls off the London Stock Exchange, Deutsche Börse wedding.
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Looking a little sadder than usual. Dietmar Rabich / Wikimedia Commons / “Frankfurt am Main, Skulptur -Bulle & Bär- -- 2015 -- 6763” / CC BY-SA 4.0, via Wikimedia Commons

Looking a little sadder than usual. Dietmar Rabich / Wikimedia Commons / “Frankfurt am Main, Skulptur -Bulle & Bär- -- 2015 -- 6763” / CC BY-SA 4.0, via Wikimedia Commons

The London Stock Exchange and Deutsche Börse have attempted to marry five times, only to be thwarted at each turn. Indeed, the Frankfurt stock market is frequentlyspurned at the altar, not by its intended, but by the regulators. This time, the LSE and DB had the misfortune to get rebethrothed just a couple of months before the U.K. voted to leave the EU—not exactly the sort of thing that makes Brussels regulators eager to see the continent’s largest bond-trading operation move to London. So the EU is making a poetic example of the doomed lovers on the very day it received divorce papers from Whitehall.

Also, the LSE proved just too addicted to Italian bonds.

Selling MTS, the LSE's Italian fixed income trading platform, would have removed the Commission's concerns but LSE declined to do so.

Don’t count the lovelorn Deutsche Börse out just yet. One day, it might just yet find the exchange of its dreams.

"It is always the same," said one Deutsche Boerse manager, commenting on the long saga of the two exchanges trying to join together. "Attempt to merge. Fall on your face. Save up money. Next merger attempt. Fall on your face," he said.

EU vetoes Deutsche Boerse-London Stock Exchange merger deal [Reuters]

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