Deutsche Boerse, operator of the Frankfurt stock exchange, wants to expand its presence in Asia via another cooperation agreement in China, with the stock exchange of Tianjin, the business daily Handelsblatt reported on March 14.
The deal was set to be signed on March 20, the newspaper said, quoting the GTZ development agency which will also be involved in the deal.
After failing to take over or merge with major European exchanges in recent years, Deutsche Boerse is looking to expand in Asia, recently acquiring a five-percent stake in the Bombay stock exchange and signing cooperation agreements in China and South Korea.
The latest deal with Tianjin is aimed at persuading Chinese firms to be listed on Frankfurt, Handelsblatt said. A spokeswoman for Deutsche Boerse declined to comment.