Tags: nyse | deutsche | borse | merge | exchange

FT Report: EU Antitrust Chief to Block NYSE-DB Deal

Tuesday, 10 Jan 2012 04:55 PM


European Commission antitrust chief Joaquin Almunia has told Deutsche Boerse and NYSE Euronext that he plans to block their $9 billion merger, the Financial Times said in its online edition on Tuesday.

Almunia, the European competition commissioner, has told the companies that he plans to prohibit their bid to create the world's biggest exchange group, the Financial Times said, without citing its sources.

Asked to comment on the report, a spokesman for the European Commission said: "The decision concerning this proposed merger is due to be taken by the Commission before 9 February. Until the decision is taken, we cannot comment, confirm and/or deny anything."

Almunia's case team have drafted an official recommendation to disallow the deal because it would create a dominant player in European exchange traded derivatives markets, the Financial Times said, citing two people involved in the process.

Although the EU antitrust case team and Almunia work closely together, it remains unclear whether Almunia shares the views of the case team.

An EU source said it is likely that a draft proposal on the decision is out now.

The European Commission has demanded that Deutsche Boerse and NYSE sell either the Eurex derivatives arm or Liffe, the Financial Times said, a move that both exchanges have ruled out so far.

Reuters reported last month that European Commission antitrust officials showed no sign of being swayed by last-ditch arguments to save the deal, forcing Deutsche Boerse and NYSE to lobby European Commissioners, including Almunia directly.

Deutsche Boerse on Tuesday said: "Deutsche Boerse and NYSE Euronext have not received yet any decision by the European Commission regarding the requested merger of both companies. The Commission has announced that it will make its final ruling on whether to clear the proposed merger by Feb. 9, 2012. As a matter of policy, we cannot comment on speculation."

NYSE Euronext said it has not yet received an official decision by the European commission.

© 2015 Thomson/Reuters. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved