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Deutsche Boerse says work on LSE merger post Brexit may take months

Deutsche Boerse said on Tuesday that the work of a referendum committee to make its planned merger with British peer LSE Brexit-proof may take months to complete.

The boards of the London Stock Exchange and Deutsche Boerse confirmed on Tuesday that they are discussing a potential merger.
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The referendum committee, chaired by Deutsche Boerse Chairman Joachim Faber, will make recommendations to ensure that a merged group will meet all regulatory requirements to secure closing of the transaction and achieve its commercial objectives.

"Whether the UK is just European or a member of the EU, the merger will create a globally competitive, industry defining market infrastructure group at the service of European industry, " Deutsche Boerse said in statement, adding that the agreed transaction includes all necessary mechanisms to respond to the outcome of the referendum.

On Monday LSE shareholders approved the $27 billion merger with its German counterpart to create a European exchange giant.

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