A regional regulator said it had raised some objections to exchange operator Deutsche Boerse's take-over of NYSE Euronext and was awaiting a reply. "There are legal reservations about the deal," the Hessian Ministry of Economics said in an e-mailed statement on Monday. The ministry, based in Wiesbaden, Germany, has the power to revoke Deutsche Boerse's operating licence, a key prerequisite to a successful deal.
The ministry said it had submitted a list of suggested amendments to the deal, but had not received any answers from Frankfurt-based Deutsche Boerse. "The merger partners now need to make appropriate proposals about how to address the reservations," Ulrike Franz-Stoecker said in an e-mailed statement. The ministry declined to provide details about the list of objections. The Hessian ministry has in the past said it would give its final verdict on the take-over after antitrust authorities in Brussels had ruled on the deal. Deutsche Boerse said on Monday it was in "constant dialogue" with the Hessian supervisor.