SEARCH
« Future of Harry and David in Doubt | Main | Bank of America Announces Program to Help Military Homeowners »
Thursday
Feb102011

Germans in Talks to Acquire New York Stock Exchange

Photo Courtesy - Getty Images(NEW YORK) -- One of the crown jewels of U.S. capitalism may soon fall into foreign hands.

The New York Stock Exchange is in negotiations to be acquired by German stock exchange Deutsche Borse AG.

While both companies suggest it is a merger of equals, Deutsche Borse shareholders would control about 60 percent of the combined company.

News of the planned merger comes after years of consolidation among stock markets around the world, but the thought of the storied Wall Street exchange falling under German control might rankle some people, including members of Congress.

The Wall Street Journal reports Thursday that the acquisition is symbolic of New York's "fading dominance" as a global financial center.  The NYSE traces its history on Wall Street to 1792. 

Copyright 2011 ABC News Radio

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>






ABC News Radio