(Alliance News) - London Stock Exchange Group PLC has been given one week to soothe competition concerns related to its acquisition of Quantile Group Ltd, a UK watchdog said on Tuesday.
The Competition & Markets Authority said LSEG has until May 10 to offer undertakings to avoid a more in-depth probe by the watchdog.
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.
In March, the CMA launched its merger inquiry, inviting comments on the transaction until March 17.
The watchdog explained on Tuesday: "The CMA has decided, on the information currently available to it, that it is or may be the case that the following merger may be expected to result in a substantial lessening of competition within a market or markets in the UK."
LSEG shares were 0.8% lower at 7,852.00 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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London Stock Exchange (LSEG)