NYSE will not appeal EU merger veto
(NEW YORK) - The transatlantic exchange operator NYSE Euronext announced Thursday that it will not challenge a European Union veto blocking its merger with German rival Deutsche Boerse.
"While we continue to believe that the European Commission decision was based on an incorrect determination of the relevant market definition, we do not believe that the interests of our shareholders and our company would be served by undertaking a protracted appeal," it said in a statement.
Deutsche Boerse said Monday it would challenge the commission's ruling last month against the proposed merger, which would have created the world's largest exchange operator.
In February, the commission vetoed the tie-up, citing concerns the combined company would have monopolistic power in certain derivatives trading.
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