Deutsche Boerse CEO Repeats Tie-Up With NYSE Strengthens Frankfurt, Europe
14 Novembre 2011 - 12:09PM
Dow Jones News
Deutsche Boerse AG's (DB1.XE) planned tie-up with U.S. peer NYSE
Euronext (NYX) will strengthen Frankfurt and Europe as a financial
center, the German exchange operator's chief executive, Reto
Francioni, said Monday.
Francioni was speaking at the Frankfurt Euro Finance Week
conference.
Later Monday, Deutsche Boerse's supervisory board will discuss
proposed remedies to the European Union's formal objections to the
planned tie-up with NYSE Euronext, two people familiar with the
matter told Dow Jones Newswires.
The remedy proposals from the German exchange operator's
management, will have to be approved by Deutsche Boerse's
supervisory board prior to the 2300 GMT Nov. 17 deadline when
Deutsche Boerse and NYSE Euronext must submit the proposals to the
European Commission, the EU's executive arm.
Francioni, in his speech emphasized the advantages of a
combination of the two exchange powerhouses for the locations they
operate in, and for stakeholders. He added that the planned tie-up
--combining the international integration with local presence-- is
also a response to structural changes in the industry that is
increasingly becoming global.
By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500;
ulrike.dauer@dowjones.com
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