LSE-Deutsche Boerse Merger Said to Have German CEO, London Baseby and
Deutsche Boerse's Kengeter said to be CEO of combined group
LSE's current Chairman Donald Brydon would remain chairman
Deutsche Boerse AG’s Carsten Kengeter may become chief executive officer if the merger with London Stock Exchange Group Plc goes ahead as planned, according to people familiar with the matter.
LSE CEO Xavier Rolet will probably step down, said the people, who declined to be identified citing confidentiality. Kengeter became the top executive of the Frankfurt-based exchange only last year. LSE’s current chairman, Donald Brydon, would become chairman of the combined exchange operator, the people said.
Discussions about the 20 billion-pound ($28 billion) deal are still fluid and a deal may not happen.
The combined entity, which would be by far the largest European exchange, would locate its holding company in London, while continuing to operate markets from their present locations. A formal offer may come within 10 days, although such details are always uncertain, the people said.
Spokespeople for both companies declined to comment.
The London and Frankfurt-based market operators confirmed that they were in discussions to merge on Tuesday. Should regulators approve the all-share deal, LSE’s equity holders would own 45.6 percent of the enlarged group and Deutsche Boerse’s stockholders would get 54.4 percent.
The Financial Times reported the information earlier.