Identifier
Created
Classification
Origin
07THEHAGUE219
2007-02-05 17:25:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy The Hague
Cable title:
DUTCH FINANCE MINISTER APPROVES NYSE/EURONEXT MERGER
how-toVZCZCXRO8321 PP RUEHAG RUEHDF RUEHIK RUEHLZ RUEHROV DE RUEHTC #0219 0361725 ZNR UUUUU ZZH P 051725Z FEB 07 FM AMEMBASSY THE HAGUE TO RUEHC/SECSTATE WASHDC PRIORITY 8106 INFO RUCPDOC/USDOC WASHDC RUEATRS/DEPT OF TREASURY WASHDC RUEHFT/AMCONSUL FRANKFURT 3636 RUCNMEM/EU MEMBER STATES COLLECTIVE RUEHAT/AMCONSUL AMSTERDAM 2228
UNCLAS THE HAGUE 000219
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/UBI (RREITER)
USDOC FOR 4212/USFCS/MAC/EURA/OWE/DCALVERT
TREASURY FOR IMI/OASIA/VATUKORALA
PARIS ALSO FOR OECD
STATE PLEASE PASS FEDERAL RESERVE
USEU FOR JENNIFER UNDERWOOD
E.O. 12356: N/A
TAGS: EFIN ECON EINV ELAB NL
SUBJECT: DUTCH FINANCE MINISTER APPROVES NYSE/EURONEXT MERGER
REF: A) THE HAGUE 12 B) 06 THE HAGUE 2275
C) 06 THE HAGUE 1864 D) 06 THE HAGUE 1726
E) THE HAGUE 1391 F) 06 PARIS 7892
THIS MESSAGE IS SENSITIVE BUT UNCLASSIFIED. IT CONTAINS PROPRIETARY
INFORMATION. PLEASE HANDLE ACCORDINGLY.
UNCLAS THE HAGUE 000219
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/UBI (RREITER)
USDOC FOR 4212/USFCS/MAC/EURA/OWE/DCALVERT
TREASURY FOR IMI/OASIA/VATUKORALA
PARIS ALSO FOR OECD
STATE PLEASE PASS FEDERAL RESERVE
USEU FOR JENNIFER UNDERWOOD
E.O. 12356: N/A
TAGS: EFIN ECON EINV ELAB NL
SUBJECT: DUTCH FINANCE MINISTER APPROVES NYSE/EURONEXT MERGER
REF: A) THE HAGUE 12 B) 06 THE HAGUE 2275
C) 06 THE HAGUE 1864 D) 06 THE HAGUE 1726
E) THE HAGUE 1391 F) 06 PARIS 7892
THIS MESSAGE IS SENSITIVE BUT UNCLASSIFIED. IT CONTAINS PROPRIETARY
INFORMATION. PLEASE HANDLE ACCORDINGLY.
1. (SBU) Dutch Finance Minister Zalm signed on February 2 a
declaration of no objection that will allow the NYSE and Euronext to
merge. Legally based in the Netherlands, Euronext requires a
license in the form of a "declaration of no objection" from the
Dutch Finance Ministry (MOF) to operate. A MOF official told
Econoff on January 5 that the outstanding issue of U.S. sanctions
against targeted countries (administered by the U.S. Treasury's
Office of Foreign Assets Control, OFAC) had been settled in an
exchange of letters between the MOF and OFAC, as well as in a
statement from OFAC. See ref A and previous for background on this
issue.
2. (SBU) The approved license contains provisions designed to
discourage U.S. regulations like Sarbanes-Oxley from being applied
to European firms listed on a combined exchange. For example, such
provisions include the possibility for the Dutch MOF to trigger the
activities of a Dutch and Delaware foundation (ref F) which would
take over Euronext shares if such U.S. regulations were found to
apply in the future. NYSE and Euronext will now take steps to
finalize the merger, including the issuance of an official bid.
ARNALL
SIPDIS
SIPDIS
SENSITIVE
STATE FOR EUR/UBI (RREITER)
USDOC FOR 4212/USFCS/MAC/EURA/OWE/DCALVERT
TREASURY FOR IMI/OASIA/VATUKORALA
PARIS ALSO FOR OECD
STATE PLEASE PASS FEDERAL RESERVE
USEU FOR JENNIFER UNDERWOOD
E.O. 12356: N/A
TAGS: EFIN ECON EINV ELAB NL
SUBJECT: DUTCH FINANCE MINISTER APPROVES NYSE/EURONEXT MERGER
REF: A) THE HAGUE 12 B) 06 THE HAGUE 2275
C) 06 THE HAGUE 1864 D) 06 THE HAGUE 1726
E) THE HAGUE 1391 F) 06 PARIS 7892
THIS MESSAGE IS SENSITIVE BUT UNCLASSIFIED. IT CONTAINS PROPRIETARY
INFORMATION. PLEASE HANDLE ACCORDINGLY.
1. (SBU) Dutch Finance Minister Zalm signed on February 2 a
declaration of no objection that will allow the NYSE and Euronext to
merge. Legally based in the Netherlands, Euronext requires a
license in the form of a "declaration of no objection" from the
Dutch Finance Ministry (MOF) to operate. A MOF official told
Econoff on January 5 that the outstanding issue of U.S. sanctions
against targeted countries (administered by the U.S. Treasury's
Office of Foreign Assets Control, OFAC) had been settled in an
exchange of letters between the MOF and OFAC, as well as in a
statement from OFAC. See ref A and previous for background on this
issue.
2. (SBU) The approved license contains provisions designed to
discourage U.S. regulations like Sarbanes-Oxley from being applied
to European firms listed on a combined exchange. For example, such
provisions include the possibility for the Dutch MOF to trigger the
activities of a Dutch and Delaware foundation (ref F) which would
take over Euronext shares if such U.S. regulations were found to
apply in the future. NYSE and Euronext will now take steps to
finalize the merger, including the issuance of an official bid.
ARNALL