Halt stock exchange deal, May and Carney warned

City grandees want ‘destabilising’ merger delayed until after Brexit
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Forty signatories to a letter in The Times say they fear that the deal would harm Britain’s national interest as it could enable the eurozone to repatriate euro clearing
Forty signatories to a letter in The Times say they fear that the deal would harm Britain’s national interest as it could enable the eurozone to repatriate euro clearing
TOBY MELVILLE/REUTERS

A Eurosceptic coalition of City grandees is calling on Theresa May and Mark Carney to put the planned £24 billion merger of the London Stock Exchange and Deutsche Börse on hold for two years.

They claim it would be destabilising for the deal to take place while Britain negotiates its departure from the EU.

In a letter in The Times today Lord Lawson of Blaby, the former chancellor, Andrew Beeson, the former chairman of Schroders, and Lord Flight, the chairman of Flight and Partners and former deputy chairman of the Tory party, insist the deal is “a risk that the government should recognise, evaluate — and not take now”.

Among the 40 signatories are Peter Cruddas, chief executive of CMC Markets and former Tory treasurer,