Reuters: Euronext, NYSE still seek German, Italian deal

15 October 2006




Euronext and the NYSE Group said on Sunday they were still willing to open discussions with German operator Deutsche Boerse and Italy's Borsa Italiana over a possible four-way merger.

Deutsche Boerse has notified the European Commission that it wants to acquire Euronext and has invited Italy's Borsa Italiana to join a pan-European federal exchange.

Euronext has rejected the offer and has said it plans to merge with the operator of the New York Stock Exchange, instead.

In a joint statement, Euronext and the NYSE Group repeated their assertion that European operators should merge their cash businesses -- an idea Deutsche Boerse has already rejected.

'Euronext and NYSE continue to believe that such a cash equity combination delivers the maximum benefits to investors, issuers and all stakeholders with minimum execution risk,' the statement said.

'Euronext and NYSE re-confirm their willingness to begin immediately discussions with Deutsche Boerse and Borsa Italiana to create such a consolidated European cash market,' it added.

© Reuters