×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

EU to object to Deutsche Boerse-NYSE deal: Sources

EU to object to Deutsche Boerse-NYSE deal: Sources
Comment E-mail Print Share
First Published: Tue, Oct 04 2011. 07 01 PM IST
Updated: Tue, Oct 04 2011. 07 01 PM IST
Brussels: European Union regulators will formally object to the proposed merger of Deutsche Boerse and NYSE Euronext this week, two sources with knowledge of the case said, which may force the companies to offer concessions to ease competition concerns.
“The European Commission is expected to send a statement of objections to the parties this week,” one of the sources said on Tuesday, declining to provide more details because of the sensitivity of the subject.
This was confirmed by a second person. The first source said the companies had not submitted any remedies to the Commission.
A “statement of objections” or charge sheet typically sets out competition concerns identified by the regulator. Deutsche Boerse and NYSE Euronext can seek to allay regulatory worries by trying to persuade the Commission it is wrong or offer remedies to fix the problems.
The Commission opened an in-depth investigation into the deal on 4 August, citing concerns about the deal’s impact on derivatives and equities. It has set a 13 December deadline on whether to clear or block the merger.
Comment E-mail Print Share
First Published: Tue, Oct 04 2011. 07 01 PM IST