德意志交易所洽谈并购伦敦证交所

Deutsche Borse is in talks to take over the London Stock Exchange Group, in a megadeal that would create a European champion presiding over many of the world’s leading financial markets.

德意志交易所(Deutsche Borse)正在洽谈收购伦敦证交所集团(London Stock Exchange group)，这一规模巨大的交易将缔造一家管理全球多个顶尖金融市场的欧洲冠军企业。

Shares in the 215-year-old institution located in the heart of the City of London rose more than 13 per cent as it confirmed the two groups were discussing what it claimed would be a “merger of equals”.

地处伦敦金融城(City of London)核心位置的伦敦证交所，是一个有215年历史的机构。在它确认两家集团在讨论其所称的“对等合并”后，其股价大涨逾13%。

The move echoes previous efforts in the past two decades to fashion the two exchanges into a single entity. Under Xavier Rolet’s leadership during the past six years, the LSE has gone from defensive prey to challenging its counterpart for the crown as Europe’s largest market infrastructure provider by market capitalisation.

此举再现了过去20年里将这两个交易所打造成一个实体的种种努力。过去六年里在罗睿铎(Xavier Rolet)的领导下，伦敦证交所集团已从防御性的被收购目标，转变为叫板其对手，争夺欧洲最大市场基础设施提供商（按市值计算）的地位。

The talks are likely to attract scrutiny from politicians, regulators and competitors as they come at a time of heated debate in Britain over whether it should leave the EU.

在英国就应不应该脱离欧盟(EU)展开激烈辩论之际，这一磋商可能会引起政界人士、监管机构和竞争对手的密切关注。

Given the intense consolidation of exchanges in recent years, global regulators will also probe the companies over the dominant role they would have in trading and clearing derivatives. The boards believed it would be “an industry-defining combination”, the LSE said.

考虑到最近几年交易所的密集整合，全球监管机构也会调查两家企业在衍生品交易和结算方面的霸主地位。伦敦证交所集团表示，两家企业的董事会相信，这将是“一次界定行业的联姻”。

The all-share deal would see Deutsche Borse own 54.4 per cent of a combined group and LSE shareholders controlling the remainder.

这宗全股票交易若能完成，德意志交易所将持有合并后集团54.4%的股份，伦敦证交所集团的股东将控制剩余股份。

For Deutsche Borse, this is just the latest attempt to become a more global force. It first tried to combine with the LSE in 2000. The deal would have ramifications across the Atlantic as it would threaten to marginalise the CME Group, the US’s most influential exchange operator, in Europe.

对德意志交易所来说，这只是其成为更加全球化的力量的最新努力。该所首次尝试与伦敦证交所集团合并是在2000年。该交易将在大西洋彼岸产生冲击波，因为它可能令美国最有影响力的交易所运营商——芝加哥商品交易所集团(CME Group)在欧洲被边缘化。