www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

LSE and Deutsche Boerse may go Dutch to win over regulators

(Agencies) Updated: 2016-07-06 08:04

London Stock Exchange Group Plc shareholders approved Deutsche Boerse AG's acquisition of the 300-year-old exchange on Monday in a near-unanimous vote. That was the easy part.

About 99.9 percent of shareholders voted in favor of the deal, according to a statement from the company. Still, the deal, thrown into doubt by the United Kingdom's decision to leave the European Union, has been getting push back from German regulators who don't want the combined exchange to be based in London. A compromise may mean moving the new company's location outside of the UK to obtain approval for the merger, people familiar with the matter said.

Options could include moving the holding company from London to a different location within the EU, such as the Netherlands, said the people, who asked not to be named citing confidentiality. Such a move would only come after LSE shareholders approve the existing merger plan, Deutsche Boerse's tender offer succeeds and the deal is completed, they said.

Under the current plan, the exchanges will keep separate operating headquarters in London and Frankfurt, and the holding company would be based in the UK capital.

While LSE investors approved the deal at Monday's meeting, one shareholder in attendance asked executives for assurances that the headquarters would not be moved to Frankfurt. Management didn't directly respond, instead highlighting the global nature of the company.

The headquarters "is important," said Hugh Marsden, another LSE investor at the meeting. "London is the premier financial capital, and it will continue to be-cannot move to Paris or Frankfurt."

The $14.3 billion deal still makes sense to major LSE shareholders even after Britain's shock decision to leave the EU, according to people familiar with the discussions. The deal would create a European mega-exchange that can better compete with giants in the United States and Asia.

Deutsche Boerse investors have until July 12 to tender their shares. The terms of the deal are binding and remain unchanged, representatives from both companies said.

The tie-up could be even more important with Britain leaving the EU, as the union between London- and Frankfurt-based firms may lubricate capital flows between the region's financial centers. The companies' boards have maintained that the takeover makes sense regardless of the Brexit decision.

Brexit also threatens the companies' clearinghouses-firewalls that hold collateral from buyers and sellers in case one of them defaults. French President Francois Hollande has said euro clearing should come back to the common-currency area. German officials have also said it makes the most sense for clearing, a core component of the merger, to be based in Frankfurt.

Much of London's euro clearing for derivatives happen at LCH. The company is majority owned by LSE and has cleared $346 trillion of swaps derivatives this year. About $112 trillion is denominated in euros. Deutsche Boerse's Eurex division clears about 17 trillion euros ($18.9 trillion) every month.

This is at least the third time that the German exchange group has sought to buy LSE since the turn of the century. Antitrust concerns have killed previous industry merger attempts, which are yet to be surmounted in this effort.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 五月天激激婷婷大综合蜜芽 | 成人香蕉视频 | 国产一级毛片亚洲久留木玲 | 精品国产高清在线看国产 | 久久福利资源国产精品999 | 一本色道久久综合亚洲精品高清 | 久久老司机波多野结衣 | 亚洲一区二区三区四区五区 | 国产成人精品一区二三区2022 | 久草免费资源视频 | 久久精品99毛片免费 | 99re9精品视频在线 | 成人毛片在线播放 | 中文一区在线观看 | 国内精品久久久久影院不卡 | 青青草国产免费一区二区 | 久久精品观看 | 日韩三级一区 | 亚洲欧美日韩高清综合678 | 国产美女精品视频 | 国产美女做爰免费视频网址 | 国产成人mv在线观看入口视频 | 午夜亚洲精品 | 久久久久久一级毛片免费无遮挡 | 六月伊人 | 国产aⅴ一区二区三区 | 男人天堂欧美 | 永久免费毛片手机版在线看 | 国产成人精品视频免费大全 | 97国产精品视频观看一 | 国产一区二区日韩欧美在线 | 娇喘嗯嗯~轻点啊视频福利 | 日韩一级 | 国产精品久久久久激情影院 | 一区二区三区影视 | 日韩中文字幕网 | 手机看成人片 | 亚洲国产日韩精品 | 欧美日韩在线视频观看 | 中国胖女人一级毛片aaaaa | 久久精品国产99国产精品亚洲 |