Treasury calls for EU to resist interference on NYSE-Deutsche Boerse merger
In a speech to be delivered at the London Stock Exchange UK Treasury Minister Mark Hoban will call on European antitrust regulators to avoid "political interference" as they rule on a proposed merger between Germany's Deutsche Boerse and NYSE Euronext, Bloomberg reports.
In a speech to be delivered at the London Stock Exchange UK Treasury Minister Mark Hoban will call on European antitrust regulators to avoid "political interference" as they rule on a proposed merger between Germany's Deutsche Boerse and NYSE Euronext, Bloomberg reports.
That after those companies appealed directly last week to the European Comission's President, Jose Barroso, to try and salvage the merger.
The European Union warned on the 30th of December that it has the intention of prohibiting the deal to create the world's largest exchange, because it would monopolize derivatives trading in the region.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In Mr.Hoban's own words, it is vital that the regulator "lives up to those duties in the weeks and months to come without political interference (...) I fully understand nonetheless that the Commission faces a huge challenge to resist pressure to delay, obfuscate and pander to vested interests in the EU."
Lastly, the Minister also indicated that the region can't afford to impose a financial transaction tax unless it's applied globally. Calculations provided by him show that a unilateral tax could cut European gross domestic product by as much as 3.4%, or 422bn euros ($536 bn), he said.
AB
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.