Exclusive Deutsche Börse and London Stock Press Ahead on Merger, Agree on Details, Despite Possible Rival Bids

Europe’s two largest exchange operators, Deutsche Börse and London Stock Exchange, have agreed on further details of merging into the world’s second-biggest trading platform. The Frankfurt and London-based exchanges are moving ahead with the merger despite interest from competitors following their announcement last month. On stating they were in merger talks , Atlanta-based Intercontinental Exchange and the Chicago Mercantile Exchange apparently stated their interest in a possible counterbid for the London Stock Exchange. The tie-up of the two European exchanges has met with criticism by some in Germany, fearing it might lead to a loss of Frankfurt’s standing as a financial centre and loss of control of Deutsche Börse shareholders. Deutsche Börse’s shareholders will own 54.4 percent of the new company which will own both trading platform operators, while LSE shareholders will own the remaining 45.6 percent, Deutsche Börse said, unchanged from its announcement last month. Read the full story in Wednesday’s Handelsblatt Global Edition at 12:00 Central European Time. Photo source: DPA