December 5, 2017 / 1:34 PM / a year ago

Deutsche Boerse to use access cash for buy backs, acquisitions

The plaque of the Deutsche Boerse AG is pictured at the entrance of the Frankfurt stock exchange February 1, 2012. REUTERS/Alex Domanski/File Photo

FRANKFURT (Reuters) - Deutsche Boerse has agreed to launch a new share buy back worth roughly 200 million euros (£176.4 million), the German stock exchange operator said in a statement on Tuesday.

The programme, which Deutsche Boerse wants to complete by the end of June, will be financed with available cash resources worth 800 million euros, part of which will also be used to fund acquisitions, it said.

Earlier this year, Deutsche Boerse’s planned merger with LSE Group fell apart. Former Chief Executive Carsten Kengeter said in May that big stock exchange mergers are currently off the table.

Reporting by Arno Schuetze; Editing by Douglas Busvine

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