MP says any London Stock Exchange move to Germany should be blocked

The UK should block any attempt by Germany to shift the headquarters of the London Stock Exchange to Frankfurt after it merges with rival Deutsche Boerse, an MP has said.

Under the terms of the deal to create Europe’s biggest stockmarket, Deutsche Boerse CEO Carsten Kengeter is due to head the combined group, with London the home of the main holding company and its joint board.

However, a number of German politicians have made it clear they want the headquarters to be in Frankfurt if they are to back the €25.8bn transaction, which was agreed before the UK voted in June to leave the EU.