London exchange insists German deal is still viable

The proposed £24 billion merger with Deutsche Börse seems almost sure to be blocked
The proposed £24 billion merger with Deutsche Börse seems almost sure to be blocked
TOBY MELVILLE/REUTERS

The London Stock Exchange has increased its dividend even as it insisted it is continuing to work on the increasingly distant prospect of a £24 billion merger with Deutsche Börse.

Xavier Rolet, chief executive, said yesterday that he might have to “postpone his retirement” as the likelihood recedes that the tie-up with the Frankfurt market operator will go ahead.

Mr Rolet, 57, was due to resign as London Stock Exchange boss to make way for Carsten Kengeter, chief executive of Deutsche Börse, if the deal went though, but the French-born financier said yesterday: “In the event that this transaction did not successfully conclude, then we are back to square one.

“I am back in the seat and working hard with my colleagues to ensure the