LSE adds Cardew Group to agency roster for £21bn Deutsche Börse merger

London-based comms agency Cardew Group has been brought in by the London Stock Exchange (LSE) for PR assistance around its proposed £21bn merger with German counterpart Deutsche Börse, PRWeek has learned.

Pic credit: Yui Mok / PA Wire/Press Association Images
Pic credit: Yui Mok / PA Wire/Press Association Images

Fitzroy Communications, the New York consultancy headed by former Goldman Sachs comms chief Lucas van Praag, has already been working with the LSE and is providing additional PR support around the deal. Finsbury, the LSE's retained PR agency, is also understood to be providing comms support.

Deutsche Börse's PR is being handled in-house.

The LSE announced this morning that it had reached an agreement with Frankfurt’s Deutsche Börse for a "merger of equals", creating one of the biggest stock exchanges in the world.

The new entity, which has yet to be named, will be based in London and led by LSE chairman Donald Brydon and Deutsche Börse CEO Carsten Kengeter, who will hold the same positions in the company.

Under the deal, Deutsche shareholders will hold about 54 per cent of the new company's shares, while LSE investors will hold 46 per cent.

The deal is expected to conclude late this year or early in 2017.

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