Shares in the London Stock Exchange have jumped to a record high, as foreign exchanges race for ownership of one of the City's oldest institutions. The LSE and Germany's Deutsche Brse announced merger talks in February, with the potential for creating Europe's largest stock-exchange owner, worth more than £20bn ($28bn).
A merger would combine the LSE's share-trading business with Frankfurt-based Deutsche Brse, which is bigger in derivatives, but the deal is being hotly contested by rivals in America. Atlanta-based ICE, which owns the New York Stock Exchange, has said it is considering a rival bid, sending shares in the LSE to an all-time high on Thursday. The Chicago Mercantile Exchange is also being advised on an offer, according to Bloomberg.
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