ROUNDUP: Publicly do without the merger layoffs – FAZ – Frankfurter Allgemeine Zeitung

MUNICH / FRANKFURT (dpa AFX) – The German stock exchange & lt; DB1.ETR & gt; wants job cuts in the event of a merger with the London Stock Exchange lt &; LS4C.FSE & gt; & Lt; LSE.ISE & gt; (LSE) socially acceptable. “Our goal is to manage without compulsory redundancies,” Chief Financial Officer Gregor Pottmeyer the business daily said “Euro am Sonntag”, according to a preliminary report. Details would be discussed in good time with the workers. He could not say how many jobs would be eliminated in a merger.

The two exchanges hope the merger later this year or be able to complete successfully the latest in the first quarter of 2017th Both sides referencing large growth opportunities and high potential for savings. The cost could – from the third year after completion of the deal – are forced each year to 450 million euros, which corresponds to about one fifth of the annual expenses of the companies

German-Börse CEO Carsten Kengeter makes the shareholders. meanwhile, hopes for higher dividends. “If London and Frankfurt go together, the new company will be highly profitable and could then also meet the shareholders,” he told the newspaper “Tagesspiegel” (Monday edition).

The exchanges had their merger plans made in mid-February official. This is to provide the largest by revenue exchange operator in the world. The joint holding company will have its headquarters in London. Pottmeyer expressed confidence that the merger succeeds. “From investors we get almost exclusively good feedback,” he said of Zeitung./mba/he/DP/he

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