It's being billed as a merger of equals - even if Deutsche Börse will hold over 54 percent of the new company. But the board will be evenly split between them.
The head of Deutsche Börse, which operates the Frankfurt Stock Exchange, will have to resign as CEO by the end of the year. Executives said they hoped to put an end to allegations of insider trading.
Brussels has prohibited the planned merger of the London Stock Exchange and Deutsche Börse, vetoing a union that has been plunged in doubt following Britain's vote to leave the European Union.
The London Stock Exchange has said a merger with Germany's Deutsche Börse is unlikely to meet EU anti-trust demands. But the London Stock Exchange said it has not given up and would still continue to pursue a merger.
The two stock exchanges have confirmed their intentions to merge. The LSE Group said it was part of a plan to create a new 'global markets infrastructure group.'
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