German minister warns US exchanges off Deutsche Boerse takeover approaches after London Stock Exchange merger collapse

William Turvill
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FILES - A picture taken on 07 September
The European Commission formally blocked the Deutsche Boerse-London Stock Exchange merger on 29 March (Source: Getty)

US exchanges have been warned against attempting takeover bids for Deutsche Boerse by a senior German politician.

Thomas Schaefer, finance minister in the state of Hesse, where Deutsche Boerse is based, was speaking a day after the firm’s merger with the London Stock Exchange collapsed.

Read more: London Stock Exchange-Deutsche Boerse merger timeline

Last summer, when the exchanges were progressing with the deal, Deutsche Boerse chief executive Carsten Kengeter warned that his company could become a target for a US rival such as CME Group if the deal collapsed.

It is also thought that the London Stock Exchange could attract interest from America.

Asked by City A.M. at an event in London whether politicians in Hesse, many of whom were opposed to the London Stock Exchange deal and could have been influential in blocking it in Germany, would opposed a US takeover, Schaefer said:

Read more: European Commission blocks London Stock Exchange-Deutsche Boerse merger

Deutsche Boerse is not only a private company, but it has state responsibilities. And the… stock exchange authorities in Germany have to guarantee that if there is a change of owner, it has to guarantee that business will continue uninterrupted as normal.

He added: “In other words, I would rather recommend that colleagues in America not attempt to do this.”

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