The London Stock Exchange Group and Deutsche Börse have confirmed they are in advanced merger talks, a potential £20 billion deal that would create one of the world's largest global exchange groups.

In a joint February 23 statement, the two exchanges said that they were in detailed discussions about a "potential merger of equals of the two businesses". Under the discussions, Deutsche Börse shareholders would hold 54.4% of the combined company, and LSE shareholders 45.6%.