3rd Mar 2022 14:27
(Alliance News) - The UK Competition & Markets Authority on Thursday said it is looking into the acquisition of Quantile Group Ltd by London Stock Exchange Group PLC, and whether it will lead to a lessening of competition in the market.
In December, LSEG announced that it would acquire portfolio, margin and capital optimisation services provider Quantile for up to GBP274 million, an acquisition which would allow the stock exchange operator to expand its range of post-trade risk management solutions to its customers.
The UK watchdog has launched its merger inquiry with immediate effect, and has invited comments on the transaction until March 17. The CMA has a deadline of May 3 for its phase one decision.
Earlier Thursday, LSEG said pretax profit for 2021 doubled to GBP987 million from GBP492 million in 2020, while total income surged to GBP6.42 billion from GBP2.03 billion. LSEG said its group 2021 performance gives it confidence it is on track to achieve the 5% to 7% 2020 to 2023 compound annual growth rate target.
Shares in LSEG were 9.1% higher at 6,951.02 pence on Thursday afternoon in London.
By Dayo Laniyan; [email protected]
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