NYSE owner ICE rules out bid for London Stock Exchange

The owner of the New York Stock Exchange, Intercontinental Exchange (ICE), has said it will not make a takeover offer for the London Stock Exchange (LSE).

ICE announced back on 1 March that it was considering a bid for the LSE.

But it said that it has been unable to "confirm the potential market and shareholder benefits" of the deal.

LSE agreed a merger with Deutsche Boerse on 16 March, creating one of the world's biggest exchange operators.

Shares in LSE slumped almost 10% following the announcement from the US based firm. Deutsche Boerse shares rose more than 5%.

Deutsche Boerse is already one of the world's biggest financial markets groups.

As well as owning the Frankfurt stock exchange, it owns Eurex which is one of the world's biggest markets for futures and options contracts in shares.