EU regulators have blocked London Stock Exchange’s £21bn merger with German stock exchange Deutsche Boerse.
The European Commision has said the deal would have created a “de facto monopoly” for certain financial services.
This merger would have combined Europe’s two largest stock exchange operators
London Stock Exchange has said it “regrets” the commission’s decision.
Last month it did warn that the merger may well not get the approval of the EU due to concerns over competition.
Margrethe Vestager, the commissioner in charge of competition policy, said: “The European economy depends on well-functioning financial markets.”
“That is not just important for banks and other financial institutions. The whole economy benefits when businesses can raise money on competitive financial markets.”