Frankfurt stock exchange operator Deutsche Boerse said Wednesday it has reached an agreement with the London Stock Exchange to go ahead with their planned merger and both its management and supervisory boards had consented to the key terms of the proposed tie-up. 

"Following approval of the supervisory board of Deutsche Boerse, the management board of Deutsche Boerse today concluded an agreement on the implementation of a business combination with (the London Stock Exchange) LSEG under a UK holding company," the German group said in a statement. 

"Moreover, the management board and the supervisory board of Deutsche Boerse consented to certain measures serving the implementation of the merger," it added.