As he surveys last week’s whirlwind in the global exchange landscape, Xavier Rolet probably realises he has done pretty much the only deal he could have.
By reaching across the Atlantic and agreeing a deal last week with Tom Kloet, chief executive of Canada’s TMX Group, the French chief executive of the London Stock Exchange has done a number of crucial things.
First, knowing – as he must have done – that a fresh round of global exchange mergers was imminent, he had to secure the LSE’s increasingly perilous future by seeking a partner of roughly equal size to safeguard the British bourse against takeover.
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