Report: Hedge Fund Pressure Pushes Deutsche Börse To Layoff 200

Nov 13 2007 | 8:30am ET

Christopher Hohn is apparently not satisfied with just one scalp at the Frankfurt Stock Exchange, according to media reports in Germany.

The Deutsche Börse is slashing 200 employees under pressure from Hohn’s hedge fund, The Children’s Investment Fund, the German business newspaper Handelsblatt reports. London-based TCI is pushing Deutsche Börse to streamline operations and return money to shareholders.

Two years ago, then-Deutsche Börse CEO Werner Seifert was forced out after TCI helped sink the exchange’s proposed acquisition of the London Stock Exchange.

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