European Competition Commission (ECC)'s enquiry into
potential anti-competitive issues arising from a proposed
Euronext and Deutsche Börse merger has fuelled some
industry sectors to call for a more in-depth probe. A
spokesperson for Euronext Liffe, told FO Week though
that any enquiry would not delay Euronext's EGM, scheduled for
Futures and Options Association (FOA), was among the
industry bodies recommending that the gravitas of the situation
merited an in-depth investigation, over and above the on-going
preliminary enquiry. If a more scrutinising investigation was
to be invoked, it would take 90 days following the initial
scan, according to an ECC spokesperson.
The findings from that initial enquiry were due to be
published on 21 November so a further probe could have delayed
Euronext's scheduled December EGM for a vote on a merger with
New York Stock Exchange and possibly also Deutsche Börse.
The Euronext Liffe spokesperson said, however, that "the EGM
will be in December as planned, we will give a minimum of 15
days notice before the planned date. It is not connected to the
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