According to a report Tuesday from German daily Handelsblatt, that's just what Börse investors the Children's
Investment Fund Management LLP, better known as TCI, and Atticus Capital Management LLC want to do. The two hedge funds
last week said
they'd buddied up to use their combined 19% stake to strong arm
Germany's high-profile exchange into creating "value." Since they
didn't offer any value-creating ideas, articles like Tuesday's
were a given.
The report seems extreme: Xetra is Börse's
flagship business and the basis for Frankfurt as Germany's financial
capital.
Still, if true, it seems a bit disingenuous since the
pair was part of an investor coup that prevented Börse from melding
with the LSE three years ago. Maybe when TCI and Atticus say "value," what they really mean is an above-market offer for their one-fifth stake. - Andrew Bulkeley
See Bloomberg story
See earlier story from TheDeal.com
