After enduring almost a month of triumphalism from the UK about how a merger of the London Stock Exchange Group and Deutsche Börse would bring great gains for the City of London, German politicians are making clear their response – “Not at the expense of Frankfurt”.
It is not that the Germans oppose the deal. They know that as competition intensifies between global exchange giants, Deutsche Börse must adapt to survive, and a merger with LSE Group would be a welcome addition to its strength. But they do not accept that the deal should be done at any price.
