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European commission approves NYSE takeover

BRUSSELS: The European Commission has approved Inter Continental Exchange s proposed $8.2 billion takeover of NYSE Euro next, saying the two are not direct competitors in most markets and will continue to face strong competition.

The deal will give ICE control of London-based Liffe, Europe s second-largest derivatives market.

The combined ICE-NYSE Euro next would be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group. The European Commission confirmed it approved the merger in an emailed statement Monday.(AP)

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