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Business

Deutsche Börse to Begin Share Buy-back

German stock exchange operator Deutsche Börse said it was planning to launch on Wednesday a share buy-back, part of its efforts to mend fences with rebel shareholders

who forced the company to abandon a bid to buy the London Stock Exchange (LSE). In a statement on Monday it said the buy-back of up to 10 percent of the company's stock would be completed by May 20, ahead of a general shareholders meeting set for May 25. Last month Deutsche Börse withdrew a bid worth just under two billion euros ($2.6 billion) for the LSE under pressure from large investment fund owners and promised that a significant part of the funds involved would instead be returned to shareholders.

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