The exchanges have signaled they are determined to see the process through to the bitter end and are mounting a vigorous lobbying campaign to win over key figures, including key EU commissioners, finance ministers and the leaders of France and Germany.
The formal approval for the prohibition is expected to be taken by the college of European commissioners on February 1, ahead of the February 9 deadline for a decision. The recommendation by Mr.
Industry experts say this could create an unlevel playing field for Europe. Decisions to block mergers are extremely rare, not least because merger parties sometime withdraw their application if a negative decision looks unavoidable. Sunak asks UK regulators to keep the City competitive after Brexit. Which MPs are raking it in from City law firms? Barclays names Compton as investment bank head as Venkat shakes up leadership team 4 min. Goldman Sachs Investment Banking. On The Move.
On the move. Legal Services. Bank of England says no Britcoin before JPMorgan leads Wall Street banks in blockchain hiring craze. Robinhood says hacker made off with five million email addresses. Credit Suisse. Asset Management China. ESG Politics. Abrdn in deal talks with Interactive Investor. The big OTC derivative players were not taking any chances. Just in case the deal did win clearance, they made inquiries with Zurich-based SIX Swiss Exchange, asking the stock and derivatives exchange operator to consider starting a rival derivatives business to DB NYSE, a person familiar with the talks said.
They had reason to hope for something better. Back in , when Boerse boss Francioni first attempted to buy Euronext NV, politicians including the German finance minister at the time, Peer Steinbrueck, and French President Jacques Chirac threw their weight behind efforts to create a pan-European company.
That deal too included the idea of combining the two derivatives bourses Eurex and Liffe. By contrast, this time around, Chancellor Angela Merkel and French President Nicolas Sarkozy refrained from making public statements, even though executives in Frankfurt and New York had sought to get their backing to help overturn opposition in Brussels.
The personalities of the chief executives also undermined support for the idea that a deal would create a European champion, said people who watched the lobbying efforts of Niederauer and Francioni.
He was speaking unscripted.
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