FRANKFURT May 22 Deutsche Boerse
Chief Executive Carsten Kengeter's defence team is negotiating
with prosecutors to drop an insider trading investigation
against him, German daily Handelsblatt reported on Monday.
In return, the German stock exchange operator may face a
fine for delaying the announcement of its plans to merge with
the London Stock Exchange, the report said.
Such a deal could still take several weeks, said
Handelsblatt, which cited multiple unnamed sources.
Neither Deutsche Boerse nor the Frankfurt prosecutor's
office was immediately available for comment.
Kengeter has previously denied the insider trading
allegations, saying he did not determine the timing of his share
purchases ahead of the announcement of merger plans with the
London Stock Exchange.
The plan to combine the stock exchanges, however, was later
struck down by European regulators, who said the deal - the
pair's fifth attempt to merge - would result in a monopoly in
the processing of bond trades.
Last week, Kengeter said he and Deutsche Boerse were fully
cooperating with the public prosecutor's office in the insider
"I am certain that, following detailed investigation, the
allegations will turn out to be unfounded," he said at the
company's annual general meeting.
(Reporting by Tom Sims, additional reporting by Hans
Seidenstuecker; Editing by Himani Sarkar)