FRANKFURT Dec 8 The chief executive of Deutsche
Boerse on Thursday said its planned merger with
London Stock Exchange was still a long way off, even if
European regulators should give it the green light.
"There are a series of national and regional approvals still
pending after that," Deutsche Boerse CEO Carsten Kengeter said
at an economic conference in reference to an investigation by
European antitrust regulators.
"So it is still not clear at all that everything will work
out," Kengeter added.
Concerned the $28 billion tie-up could hinder competition in
key financial market activities, the EU has opened a full
investigation into the deal and the European Commission is
expected to detail its objections in the second week of
Both companies can appeal against these or make concessions.
A thumbs up from the EU would then require the local
watchdog in Germany's state of Hesse, where Deutsche Boerse is
based, to approve the merger. Sources had previously told
Reuters the regulator was concerned over a loss of power if
Deutsche Boerse became part of the larger London-based group.
The owner of the Frankfurt stock exchange is obliged by law
to support the development of Frankfurt as a centre for
securities trading and Hesse's market watchdog has yet to give
its view on the planned merger.
Asked about talk he could step down if the merger failed,
Kengeter said only, "Deutsche Boerse is a wonderful company with
and without me."
(Reporting by Andreas Kroener; Writing by Tina Bellon; Editing
by Alexandra Hudson)