Deutsche Boerse CFO:Doesn't See Big International M&A Deals In Short Term
27 Aprile 2012 - 4:18PM
Dow Jones News
German exchange operator Deutsche Boerse AG (DB1.XE) doesn't
expect big international merger and acquisition transactions within
the sector in the next 18 months, Chief Financial Officer Gregor
Pottmeyer said Friday.
Regulators don't support large international M&A deals among
exchanges, Pottmeyer told an analyst call following the company's
first-quarter earnings report, the first stand-alone figures after
the European Union blocked its planned merger with NYSE Euronext
(NYX).
As a result, he could only envisage smaller, "opportunistic"
transactions, Pottmeyer said, adding that there aren't any in the
pipeline.
Deutsche Boerse has started a legal challenge against the EU's
verdict on the grounds that the market definition used doesn't
reflect reality and is also critical of the review process. It
expects the lawsuit hearing to last between 18 months and three
years, Eric Mueller, Deutsche Boerse's head of investor relations,
told the analysts.
The EU's General Court received Deutsche Boerse's legal
challenge of the NYSE merger veto in the second week of April. The
legal challenge doesn't aim to revive the merger plans, those are
off the table.
-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500;
ulrike.dauer@dowjones.com
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