LONDON--London Stock Exchange Group PLC (LSEG.LN) said Monday that neither it nor Deutsche Borse AG planned to shift their respective operations from London and Frankfurt following the proposed merger.

"Such action is not contemplated and any statements suggesting otherwise are inaccurate and misguided," the LSE Group said, responding to media speculation.

The merger would create Europe's largest exchange operator, with a market value of around $28 billion.

The European Commission is expected to rule on the deal by March 13, 2017, although this deadline has already been extended twice since October.

-Ben Dummett contributed to this article

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

January 16, 2017 07:39 ET (12:39 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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