Out of the blue, the London side said it couldn’t sell off bond exchange MTS to keep Europe’s competition watchdogs sweet because that would upset Italy, which relies on MTS, and its regulators and could ruin its business in the country.
London’s merger with Deutsche has umpteen issues, but no one saw MTS as being among them, until the EU’s competition watchdogs all but demanded its sale as the price for clearing the deal.
The LSE doesn’t think it can do that without spoiling the party.
With a fortune having been spent on making the merger work, it insists that it will still continue to pursue it, while growling about the demand to offload MTS being “disproportionate”.
That makes it look as if the British company has been taking lessons from British politicians in the art of how (not) to negotiate by shaking your fists at the other side.
In theory, the better word to use would have been “disappointing” before going on to talk about working with regulators to find an effective solution for all stakeholders. Or some similarly anodyne corporate speak for which the translation is “let’s be friends!”…
Read more : The Independent, 27.02.2017