Deals
Deutsche Boerse Workers Demand Headquarters Change in LSE Deal
- ‘Works council’ urges Frankfurt base in letter to shareholders
- London move would harm Frankfurt financial hub, economy: group
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A group representing Deutsche Boerse AG’s workers has demanded the company formed by the proposed takeover of London Stock Exchange Group Plc be based in Frankfurt instead of London, according to a letter to staff and shareholders.
The June 2 letter from Deutsche Boerse’s so-called works council, which was obtained by Bloomberg, said Frankfurt as a finance hub could be "severely damaged in its development, with negative consequences for the economy" if the company moved. The plan to base the new merged company in London has been an issue for politicians and businesses in Germany, who have voiced objections that a U.K. base would damage Germany’s financial capital.