LSE and Deutsche Borse agree £21 billion 'merger of equals'

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The London Stock Exchange and German rival Deutsche Borse have reached a deal on a £21 billion merger to create one of the biggest exchange companies in the world.

Billed as a "merger of equals", the deal will see the LSE make up 45.6% of the joint firm and Deutsche Borse the remaining 54.4%.

Xavier Rolet, chief executive of London Stock Exchange Group, said: "We are creating an industry-defining combination which will be a leading global market infrastructure business."