DAVID HAFFENREFFER, CNN ANCHOR: The board of the Frankfurt stock exchange last night overwhelmingly approved plans to merge with the London stock exchange, a vote of confidence in a merger that some thought might fall apart. Janet Guyon of "Fortune" magazine has more now from London. Janet, are the worries over on this front?</s>JANET GUYON, LONDON BUREAU CHIEF, "FORTUNE": Well, not completely, but this was big step when the board of the Deutsche boerse approved this merger. There had been a lot of concerns, both from the Germans and the British, over who would have power in this new exchange. So this vote is a big step forward. Now, the next thing to happen is there will be votes by the shareholders of both these exchanges, and those votes will probably take place sometime in September. We'll get an information memorandum from the exchanges to the shareholders explaining some of the details of this merger, and hopefully that will allay some fears. But the vote last night by the Germans was a big step towards bringing this merger to fruition.</s>HAFFENREFFER: Actually, I'm -- obviously one member of this deal is not a member of the E.U., but are there other cultural differences that might be getting in the way?</s>GUYON: Well, there have always been -- you know, there's always cultural differences in Europe whenever a merger of some kind is proposed. There are different regulatory regimes; you know, London has a more open regime, the Germans are more closed. There's the question of what will stocks trade in? Will they trade in euros? Will they trade in sterling? I mean some of these concerns are really nationalistic concerns that, I think, will be allayed when we get that information memorandum and as this deal goes board, because it's just a natural outgrowth of the sort of equity culture that's growing in Europe to have a single Pan-European exchange.</s>HAFFENREFFER: Indeed. Janet Guyon, of "Fortune" magazine, thanks for joining us this morning.
'Fortune': Deutsche Boerse Board Approves Merger with LSE