The UK Secretary of State for Trade and Industry has decided not to refer the proposed acquisition of the London Stock Exchange by Sweden's OM Gruppen to the Competition Commission.

The news comes the day after it emerged that OM Gruppen wants the LSE to apologise for allegations it made about OM's technology. The LSE, which is bitterly opposed to the idea of being taken over by OM, claims that the Swedish company delivered technology to clients late. OM's response is that any late delivery was not due to its own failings, but because its clients requested a postponement.