By Jaime Llinares Taboada

 

The U.K. Competition and Markets Authority said Tuesday that it is referring the acquisition of Quantile Group Ltd. by London Stock Exchange Group PLC to an in-depth investigation.

On May 10, LSEG and Quantile offered undertakings to clear the merger that might be accepted by the CMA. However, the British regulator said Tuesday that this isn't a clear-cut solution to the competition concerns identified, and that it has decided not to accept undertakings in lieu of reference.

In early December, LSEG said it was buying Quantile--a portfolio, margin and capital optimization and compression-services provider--for up to 274 million pounds ($337.6 million). The stock exchange and financial information company said the acquisition was expected to close in 2022, subject to antitrust and other financial approvals.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

May 17, 2022 02:42 ET (06:42 GMT)

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