Shares worth 100 million pounds will be bought back today. 

Following the collapse of its merger with Deutsche Boerse, the London Stock Exchange (LSE) is set to buyback 200 million pounds ($248.74 million) of its shares as it tries to placate the mood of shareholders.

With the European Commission formally blocking the deal with LSE’s German rival, the British stock exchange made the announcement late on Wednesday.

As per the European Commission, the deal would have resulted in a monopoly in the processing of bond trades.

In its statement, the LSE stated, it would not only have to pay 175 million pounds for the deal, in addition it will have to pay a significant portion, since the deal failed and did not go through.

LSE’s buyback of shares will occur in two tranches, with the first beginning today which will consist of 100 million pounds of shares.

Barclays and RBC will be managing the buyback.

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Tags: antitrust, bond trading, buy-back, Deutsche Boerse, European Commission, German Stock Exchange, London Stock Exchange, LSE, monopoly, ruling, share buyback, shares, stock exchange