Stock Exchange: NYSE gets back, will not make offer for the London Stock Exchange – Il Sole 24 Ore

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This article was published on May 4, 2016 at 20:12 hours.
the last change is the 4 May 2016 at 20:29.

Intercontinental Exchange, the operator of the New York Stock Exchange, withdrew from the race for London Stock Exchange. Ice does not intend to submit any bid for the London market, paving the way for its merger with Deutsche Boerse. The agreement between London and Frankfurt will create a group with a market value of $ 30 billion, 45.6% controlled by the shareholders of the LSE and the remaining stake held by Deutsche Boerse.

Jeffrey Sprecher, a number of Ice, has accused the LSE of refusing negotiations despite repeated attempts to set up meetings. For that Ice he had the information needed to submit an alternative offer to that of Deutsche Boerse.

With the retreat of Ice from the race for the LSE, the securities of the London Stock Exchange collapsed with the disappearance of a possible counteroffer superior to that of Deutsche Boerse. Ice was aiming at the London Stock Exchange to get your hands on LCH.Clearnet Group, the clearinghouse that plays an important role in the swap markets for global interest rates, bonds and other instruments. The clearing activities is central to Ice as demonstrated in the acquisition of the New York Stock Exchange for $ 8.3 billion in 2013: the aim was then the London International Financial Futures and Options Exchange (LIFFE). The agreement between the LSE and Deutsche Borse is still facing many difficulties, such as the referendum on Brexit. According to rumors, the German authorities could not give the go-ahead of the cartel if Deutsche Boerse whereabouts to be controlled by a holding company based outside the European Union.

The title LSE fell apart at the news of the withdrawal Ice and arrived to lose 10% before closing down 4.2 percent. Conversely Ice rose by 8% and Deutsche Boerse 6 percent.

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