FRANKFURT: The Frankfurt and London stock exchanges said Friday they would press ahead with their planned merger even though Britain has voted to leave the European Union.
“Deutsche Boerse AG and London Stock Exchange Group note the result of the UK Referendum which recorded a majority of votes in favour of leaving the European Union,” the two stock markets said in a joint statement.
“As stated in the shareholder documents published on June 1, 2016, the recommended all-share merger is not conditional on the outcome of the referendum,” the statement said. The two companies’ boards “remain fully committed to the agreed and binding merger terms, and continue the process of obtaining the necessary approvals.”
