2/1/2017, 10:47 PM (Source: TeleTrader)
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German authorities investigate Deutsche Boerse CEO

Deutsche Boerse AG announced on Wednesday that the Frankfurt public prosecutor opened an investigation into the company’s CEO Carsten Kengeter. The head of the Frankfurt Stock Exchange operator is being probed over stock purchases he made three months before the company agreed a €26 billion merger with London Stock Exchange Group Plc. The 60,000 shares acquired by Kengeter in December 2015 were worth €4.5 million. 

The firm stated the move was part of a remuneration program, where the executive board's members invest in company equity with an obligation to keep them for several years.

Deutsche Boerse and the LSE Group agreed in March to merge as equals with the intention of creating the world’s biggest exchange operator.

Breaking the News / JC