Stock Exchanges

A Chess Game in the Dark

Deutsche Boerse AG Chief Executive Officer Carsten Kengeter Interview
Carsten Kengeter is grappling with the deal amid many post-Brexit unknowns.
  • Why it matters

    Why it matters

    If the merger goes ahead, a new European super stock exchange will be created but there are hurdles on the way and concessions could eat into any possible savings.

  • Facts

    Facts

    • Deutsche Börse and LSE shareholders have both approved a merger of the two companies but many questions remain including where the company headquarters will be located.
    • Carsten Kengeter would be chief executive of the new exchange and many argue that since Britain’s Brexit vote, it should not be located in London.
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  • Audio

    Audio

  • Pdf

It was a close call: At the last minute, the shareholders of Deutsche Börse gave a green light for the merger with the London Stock Exchange (LSE).

But the biggest challenge still lies before Deutsche Börse’s chief executive Carsten Kengeter.

First, the competition watchdogs of the European Commission must decide whether the deal endangers competition in Germany. Their reservations already doomed his predecessor Reto Francioni’s plans to merge with the New York Stock Exchange. But concessions such as separating some areas of business could well defuse opposition in Brussels.

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