The London Stock Exchange Group has said it "continues to work hard" on its €29 billion merger with Deutsche Börse, just days after rejecting a condition requested as part of the antitrust process in Brussels.

The LSE said earlier this week that the European Commission was unlikely to approve the merger after the exchange declined a demand to sell its 60% stake in MTS, an Italian bond trading venue. Deutsche Börse chief executive Carsten Kengeter said he "regretted" the LSE's decision.