Brexit Won't Deter Deutsche Börse from LSE Merger
June 29 2016 - 7:30AM
Dow Jones News
By Friedrich Geiger
BERLIN-- Deutsche Börse AG remains committed to its planned $30
billion merger with London Stock Exchange Group PLC despite the
U.K.'s vote to leave the European Union.
"We will continue to put all our strength behind realizing this
project, " supervisory board Chairman Joachim Faber said
Wednesday.
Mr. Faber said the vote made it more important to maintain
stable financial relations with the U.K. and Frankfurt should take
a leading role in making sure this happens. He didn't address the
question of where the merged company would be based, an aspect of
the merger that has became an issue after the vote.
On Tuesday, Germany's top financial regulator, BaFin, said the
headquarters of a combined exchange would have to be moved away
from London, the city that until now has been designated as the
future base. German politicians and investors have also called on
Deutsche Börse's management to rework the plans to ensure the
merged companies' new headquarters wouldn't be outside the EU.
A Deutsche Börse committee focused on the referendum will
continue to meet regularly in the coming months to examine
developments and consequences for the merger, said Mr. Faber, who
heads the committee.
"This involves a comprehensive analysis of economic, political,
regulatory, supervisory and tax implications," he said.
Write to Friedrich Geiger at friedrich.geiger@wsj.com
(END) Dow Jones Newswires
June 29, 2016 07:15 ET (11:15 GMT)
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