Commissioner Barnier said that "simplification is the first priority", and said he would end the requirement for entrepreneurs to have to produce twenty different documents when bidding for a contract.

BBC: EU procurement rules to be changed

Although neither European exchange has abandoned its interest altogether, both are sidelined for the moment, pondering the British competition authorities' requirement that they reduce their stakes in clearing and settlement operations before bidding.

ECONOMIST: Macquarie plays for time | The

She said the bidding processes were "different" and the government response was "in proportion to the requirement for both those bids".

BBC: Prescott: North-south divide affects rugby funding