Dutch Government May Veto Boerse-NYSE Merger Concession - Source
22 Dicembre 2011 - 2:41PM
Dow Jones News
The Dutch government is threatening to block a possible sale of
the derivative business in Amsterdam, a move that Deutsche Boerse
(DB1.XE) and NYSE Euronext (NYX) are proposing to get approval for
their merger, a person familiar with the matter said Thursday.
The Dutch government is concerned that a sale of the business
could hurt the position of the Netherlands as a financial hub, as
Amsterdam is home to one of Europe's biggest option exchange in
Europe, the person added.
The Amsterdam exchange, which is owned by NYSE Euronext, is one
of the oldest stock markets in the world and generates a large part
of its revenue from the trade in derivative instruments like
options and futures.
The Dutch government has said previously that it doesn't have
any principal objections to the merger between Deutsche Boerse and
NYSE Euronext, which would be incorporated in the Netherlands.
However, in a letter to lawmakers in April, Finance Minister Jan
Kees de Jager warned that the loss of the Amsterdam exchange would
be "undesirable."
It comes amid increasing doubts on whether the tie-up between
Deutsche Boerse and NYSE Euronext will go through. The exchange
operators Wednesday failed to offer enough concessions to assuage
European Union antitrust concerns, another person familiar with the
matter said.
EU competition officials opened an in-depth probe of the
exchange deal in early August and formally outlined their
reservations in October. Their deadline for ruling on the matter
has twice been pushed back and currently is set for Feb. 9,
2012.
-By Maarten van Tartwijk; Dow Jones Newswires; +31 20 571 5201;
maarten.vantartwijk@dowjones.com
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