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German stock market operator Deutsche Boerse AG (DB1.XE) is forming a strategic cooperation with Bank of China Ltd. (3988.HK) , Deutsche Boerse said Monday, aimed at developing the offshore renminbi market in Europe and with the potential for cooperation on services across the board.
MAIN FACTS:
-Financial details of the arrangement weren’t disclosed.
-“Our cooperation is an important step in closer cooperation between European and Chinese markets,” Deutsche Boerse Chief Executive Officer Reto Francioni said.
-“Against the backdrop of the rapid and persistent internationalization of the renminbi, the creation of a strategic partnership is a win-win situation for both sides,” Bank of China Chairman Tian Guoli said.
Source: Marketwatch
