Deals
Deutsche Boerse Takes Aim at Local Opposition to London Merger
- German CEO sees LSE deal linking Frankfurt to tech, funding
- London headquarters among reasons for negative views locally
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Deutsche Boerse AG’s plan to take over London Stock Exchange Group Plc has been facing objections at home, forcing the company to strike a difficult balance between shareholders and locals as it seeks to create a European industry powerhouse.
The German exchange is seeking to ease concerns of local politicians and Frankfurt-based firms, with one survey saying companies negatively view the deal’s potential impact on the country’s financial capital. But Chief Executive Officer Carsten Kengeter Tuesday sought to frame the deal more positively, saying combining Frankfurt with London will create a bridge of financial technology and prevent a corporate exodus abroad in search of funding.