Deutsche Borse renews bid for Euronext

Euronext agreed to a merger with the New York Stock Exchange earlier this month (See: NYSE and Euronext agree merger terms) but Deutsche Borse has not given up hope. Under the revised plan, the Frankfurt-based exchange has not raised the economic terms of the bid, but has given Euronext several other concessions.

Euronext, rather than Deutsche Borse, would now provide the chairman of the merged company's supervisory board. Euronext's own NSC cash trading system would be adopted for cash equity trading across the merged company and IT services would now be based in Paris as well as in Frankfurt.

Deutsche Borse said the moves were intended to make the merged company "a federal organisation", adding that it had already started to seek antitrust clearance from the European Union.

Meanwhile, John Thain, chief executive of the NYSE, said the takeover of Euronext could be followed by a bid for the London Stock Exchange. Speaking to the Financial Times, he suggested that London's status as an international financial centre meant the merged NYSE/Euronext would need a London presence - either by taking over the LSE, or by setting up its own London exchange.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here