Friday, June 24, 2016

Resistance is growing: Proposed referendum on United Kingdom membership of the European Union brings Börse merger falter – n-tv.de NEWS


 Economy

 


 Friday, 24 June 2016

 
 
 


 
 Bursts the stock exchange wedding between Frankfurt and London now also the third attempt? The board members give to the victory of the opponents of the EU in Britain emphasized unimpressed. The hurdles are, however, become higher.

 


 
 

German Stock Exchange and London Stock Exchange, LSE, do not want their merger plan can thwart the British No to EU. The corporations stood “unchanged to the commonly agreed and binding provisions of the merger”, said the two companies.

However, to examine with representatives of both sides a panel, showing the effects of the Proposed referendum on United Kingdom membership of the European Union on the proposed joint venture. It is possible that some of the transactions is distributed differently in the future within the group. Market experts and investors fear that a ruptured fusion could be the first concrete result of Brexits.

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The two companies are aiming for a European super exchange where the holding company is to have its registered office in London. It is envisaged that the daily operations as before to be controlled by the two headquarters in Eschborn near Frankfurt and London. is designed to specify that the Frankfurter future will hold 54 percent in the combined company.

From the Proposed referendum on United Kingdom membership of the European Union is now the financial center of Frankfurt could benefit. There is a long time considerable criticism that the holding company will be located in the British capital. Although told German Börse supervisory board chief Joachim Faber, the vote of the British do it even more important to strengthen ties between the UK and the European continent. But critics see encouraged by the Proposed referendum on United Kingdom membership of the European Union decision. “We are not asking that the merger is completed, but the head office must to Frankfurt,” said the chairman of the council of Deutsche Börse, Jutta Stuhlfauth.

The Hessian Exchange Commission had also expressed doubts whether the seat approvable in London is. The vote of the British will play a role in the testing of the Ministry, especially when dealing with the Securities and Exchange Commission, said Hesse Economics Minister Tarek Al-Wazir (Green). “And of course we will wait and see if the plans remain in this form,” said Al-Wazir.

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The shareholder approval is no longer considered for granted given the Proposed referendum on United Kingdom membership of the European Union decision. Even at the Annual General Meeting of Deutsche Börse shareholders in mid-May had raised concerns that the merger in Proposed referendum on United Kingdom membership of the European Union Case for the DAX companies, could be too expensive. Because then the LSE will lose much of their value and the German Börse sink a lot of money.

Deutsche Börse shares lost on Friday until early afternoon good seven percent, LSE papers almost ten percent.

  Source: n-tv.de
 


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