Deutsche Boerse boss: LSE merger should go ahead

The head of Deutsche Boerse has declared that the proposed merger with the London Stock Exchange still makes sense, telling a German audience that he is convinced of the deal’s  logic despite “challenging seas” ahead.

In what is likely to be one of his last major public appearances until April 3, when the European Commission is expected to make its final decision on the €24bn (£21bn) deal, chief executive Carsten Kengeter expressed his disappointment over the LSE’s decision not to placate regulators by selling its Italian bond trading platform.

He told the Frankfurt Chamber of Commerce “what is certain is that we at Deutsche Boerse very much regret the decision and remain convinced of the logic of the merger”.

Tarek Al-Wazir, the economics minister for Hesse who is against basing the joint holding company in London, was at the event. He says the UK would be “naive” to expect generous deals when it leaves the EU, and that Frankfurt is set to win business from London.