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EU: Markets at mercy of the US if London Stock Exchange merger fails, says Deutsche boss

By  |  March 20, 2016

Europe’s biggest financial markets would fall into American hands unless the London Stock Exchange succeeds in its bid to merge with Deutsche Boerse, the head of the German exchange has warned.

Speaking after the two markets laid out the details of their £21bn tie-up, and with rival bidders from around the world waiting in the wings, Carsten Kengeter said the deal was the best chance of Europe’s bourses competing on the world stage.

“If this merger does not take place, the European capital market architecture will probably soon be in American hands. And one does not need to be the CEO of the Deutsche Boerse to shudder at that thought,” he told the German media. “The clock is ticking in Europe, not just for the LSE but also for us. If we do not strengthen ourselves quickly, then the company will eventually be so weak that it can no longer act, but only react.”

His comments came as investors, politicians and rivals digested the details of the LSE’s merger with Deutsche Boerse, which was formally announced on Wednesday as a pan-European market giant.

Full Content: The Telegraph

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