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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: elmatador	11/19/2004 4:34:03 AM
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WALL STREET 'HASSLE' WORRIES GERMAN FIRMS - The majority of German companies with US stock market listings would like to get out of New York to avoid the cost and hassle of complying with the US regulatory regime, senior German executives have told the Financial Times. One board member of a company with a US listing told the FT at least half of the 13 Dax 30 companies with such a listing now wanted to withdraw from the US market. The paper says his comment, after taking informal soundings from finance directors, follows remarks last week by the finance director of Siemens, who told a select panel of the group's banking advisers that it was considering a withdrawal. Big German companies estimate the cost of maintaining their US listings at €30m-€80m. The bureaucratic burden of Sarbanes-Oxley legislation, introduced in 2002 after the Enron and WorldCom scandals, is blamed for doubling the cost rte.ie

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