Germany's financial regulator, BaFin has written to Deutsche Börse shareholders in an attempt to ascertain whether they are acting in concert to influence the actions of the exchange's management and supervisory boards.
The state laws of Hesse, under which Deutsche Börse is regulated, stipulate that shareholders holding more than 10% of an organisation's stock are responsible for maintaining its "sound and prudent management".
In a letter sent to leading shareholders at the weekend such as TCI Fund Management (which holds an 8% stake in the exchange, and recently requested the removal of the supervisory board's chairman), BaFin sought to clarify whether a combined effort is being made to influence the future actions of the Börse.
According to reports in the international media, if this is found to be the case, the shareholders in question can be blocked by the regulator from increasing their stakes or casting votes.
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