The EU blocked the blockbuster merger of the London Stock Exchange with Germany's Deutsche Boerse on Wednesday, snagged by competition concerns and the fallout from Brexit.

"As the parties failed to offer the remedies required to address our competition concerns, the Commission has decided to prohibit the merger," said EU Competition Commissioner Margrethe Vestager in a statement.

The decision was widely expected after the LSE last month said it had refused the European Commission's request to divest its majority stake in Italian trading platform MTS.