London (AFP) - London Stock Exchange Group shareholders on Monday voted overwhelmingly for a merger with Deusche Boerse, operator of the Frankfurt exchange, despite concerns it could be scuppered by Britain's EU exit.
A total 99.89 percent of LSEG shareholders who voted supported the merger, a statement said.
Ahead of Monday's outcome, Deutsche Boerse and LSEG, which also operates the Milan stock exchange, said they would press ahead with the merger even though Britain last month voted to leave the European Union.
Monday's statement said that "the agreed transaction includes all necessary mechanisms to respond to the outcome of the referendum".
Shareholders of Deutsche Boerse have until July 12 to decide whether to back the merger, while the pair plan to seal the tie-up before the end of the month.
The combination, which both sides describe as a "merger of equals", will create one of the world's biggest stock exchanges.
Last week, the German financial sector watchdog, BaFin, said it is opposed to the merged company being based in Britain after the referendum result. However, it does not have a formal say in the matter.
Under the terms of the deal, the holding company combining Deutsche Boerse and the London Stock Exchange Group will be legally domiciled in London.
The day-to-day running of the separate subsidies will be handled out of corresponding headquarters in London and Frankfurt.
Under the agreed terms, Deutsche Boerse shareholders will end up with 54.4 percent of the new holding company's capital, and LSE shareholders with 45.6 percent.
"I would like to thank our shareholders for their strong support for the merger," LSEG chairman Donald Brydon said.
Deutsche Boerse chairman Joachim Faber added: "I strongly endorse the statement of London Stock Exchange Group... and continue to recommend the transaction to the shareholders of Deutsche Boerse."