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Wall Street News

Protectionism Rears Its Ugly Head

March 31, 2017

[Photo: Deutsche Borse, by Christoph Siekermann / Wikimedia Commons]

 

On Wednesday, the European Commission vetoed a planned merger between Germany’s Deutsche Borse and the London Stock Exchange. That decision was quickly followed by a warning issued by Thomas Schaefer, finance minister for the Frankfurt financial district that regulates the German stock exchange: U.S. stock exchanges should not even think about submitting a bid to buy Deutsche Boerse.

 

"Deutsche Boerse is not only a private company but it also has state responsibilities." And, Mr. Schaefer added: "The stock exchange authorities of Germany have to guarantee that if there is a change of owner, it has to guarantee that business has to continue uninterrupted as normal and it doesn't matter who makes an offer."