Business

Sunday 26 February 2017

Deutsche Boerse sees €450m cost savings in London Stock Exchange merger

REUTERS/Toby Melville/Files
REUTERS/Toby Melville/Files

Deutsche Boerse on Wednesday said it had reached a merger agreement with the London Stock Exchange and saw potential cost savings of €450m per year for the combined company.

"The combination will offer significant value creation potential," Deutsche Boerse said in a statement, calculating total cost savings of €450m per year or about 20pc of the combined group's adjusted operating costs of €2.2bn in 2015, it said in a statement.

The German exchange operator said cost savings were in addition to those already planned by Deutsche Boerse and LSE.

Reuters

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