It was Carsten Kengeter’s first public appearance since the merger between Deutsche Börse and the London Stock Exchange (LSE) fell apart. Mr. Kengeter, the chief executive of the German stock exchange operator, appeared relaxed during his visit to the Handelsblatt Economic Club, even as he conceded that he had made mistakes in the failed deal.
Mr. Kengeter acknowledged that he had failed to convey the advantages of the €29 billion, or $31 billion, merger with LSE: “We didn’t act as persuasively and emotionally in our communication as maybe was necessary,” he said in front of the approximately 90 club members in Frankfurt.
Mr. Kengeter’s critics had accused him of being naive about the political hurdles the deal would face. “I have to accept the accusation,” he acknowledged.