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Euronext Regulators Meet To Discuss NYSE Merger

by Ulrika Lomas, for LawAndTax-News.com, Brussels

24 November 2006


The Chairman’s Committee of the Euronext regulators met in Amsterdam on Wednesday to consider a potential combination between the NYSE Group, Inc. and Euronext N.V. into NYSE Euronext.

The regulators are in the process of analysing a report from the joint taskforce, which was set up earlier this year to consider the potential combination.

Currently they are in the process of finalising their considerations, and expect to come to the conclusion of their considerations, at the latest by early December.

Earlier this month, NYSE rival Deutsche Boerse announced that it had pulled out of the running to merge with the pan-European exchange operator.

In a statement, the German stock exchange revealed that it had abandoned the merger because of the unwillingness of Euronext's board to engage in talks.

The statement also cited recent share price developments, and said that the transaction "would no longer create value for Deutsche Boerse shareholders".

Deutsche Boerse CEO, Reto Francioni stated that: “We are convinced that, in our industry, mergers can only be successful with the support of both management teams and the industry. We have invested time and commitment but it is part of our responsibility to recognize when further effort doesn't make sense.”

He concluded that: “External growth is an option but not a necessity for Deutsche Börse. Based on our very strong position in the industry, we will continue our successful organic growth path. Nevertheless, we expect to take an active role in the consolidation process in our industry in Europe and beyond.”


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