Deutsche Boerse boss in warning over London Stock Exchange deal hurdles: “It is still not clear at all that everything will work out”
The chief executive of Deutsche Boerse has warned “it is still not clear at all that everything will work out” in relation to the German company’s merger with the London Stock Exchange.
The exchange operators, which agreed to the £21bn deal in March, are awaiting a statement of objections to the deal next week from the European Commission.
And Carsten Kengeter yesterday warned that the deal will face further hurdles after this.
Read more: China and US will dominate if merger is blocked, warns Deutsche Boerse exec
Analysts view winning approval from the EU regulator as the major hurdle facing the companies.
But Deutsche Boerse chief executive Carsten Kengeter yesterday said the deal remains a long way off, even if the European Commission gives it the nod.
“There are a series of national and regional approvals still pending after that,” he said at an economic conference attended by Reuters.
Read more: Stock exchanges expect Brussels objections to deal before Christmas sprouts
He added: “So it is still not clear at all that everything will work out.”
Kengeter was also asked at a conference whether he could step down if the merger fails. He said: “Deutsche Boerse is a wonderful company with and without me.”
The London Stock Exchange has put its Paris-based clearing house, LCH Clearnet SA, up for sale in anticipation of concerns from the EU regulator.