| Author (Person) | Barker, Alex |
|---|---|
| Series Title | Financial Times |
| Series Details | 1.2.12 |
| Publication Date | 01/02/2012 |
| Content Type | News |
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It was announced on the 1 February 2012 that the European Commission had blocked the proposed $9bn tie-up between Deutsche Börse and NYSE Euronext, scuppering an attempt by the US and German groups to create the world’s largest equity and derivatives exchange. Joaquín Almunia, European Competition Commissioner, argued the merger would have created a dominant power in European exchange-traded derivatives that would have stifled competition. According to senior EU sources, the decision to reject the proposal was signed off by the European Commission after an unusually fierce debate among the 27 Commissioners, where a minority challenged the verdict because it hindered the emergence of 'European champions' in a global market. |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe, Germany |
