LSE to buy back 200 million pounds of its shares
London Stock Exchange (LSE.L) said it will buy back £200 million pounds of its shares, as it tries to placate shareholders following the collapse of its merger with Deutsche Boerse (DB1Gn.DE).
The British exchange made the announcement late on Wednesday; hours after the European Commission formally blocked the deal with its German rival. The Commission said the deal would have resulted in a monopoly in the processing of bond trades.
LSE said in February it would face costs of around 175 million pounds for the deal and it will still have to pay a significant portion of that despite the merger not going ahead.