Wednesday, April 12, 2006
Euronext would prefer merger to being acquired; has not yet decided which approach it will recommend
Euronext would prefer a merger with another exchange to being acquired, it is understood.
The pan-European exchange has not yet decided which it prefers among the expressions of interest it has received from other exchanges, it was said.
The exchange believes it has already made clear, through its statement on 3 April, that it expects to be able to recommend one of the informal approaches it has received at its AGM on 23 May, it is understood.
The exchange said it had been in contact with a number of potential partners who had given it the impression it would be their �preferred partner�. Euronext might be including the London Stock Exchange in this group, but was not thinking of Deutsche Boerse, it was said.
The LSE privately admitted yesterday to having had conversations with Euronext, but said it was �miles away from negotiations�.
Euronext would not reveal the identities of the other interested parties, but pointed to recent speculation that the New York Stock Exchange and the two Chicago exchanges might be looking at it.
The New York Stock Exchange declined to comment. The Chicago Mercantile Exchange refused to say whether it had approached Euronext, but a CME spokesman said the exchange had already said it was interested in consolidating. Yesterday an insider at Goldman Sachs confirmed a rumor that Goldman was advising CME. The Chicago Board of Trade was unavailable for comment.
Euronext does not feel it has to make an announcement if "
The pan-European exchange has not yet decided which it prefers among the expressions of interest it has received from other exchanges, it was said.
The exchange believes it has already made clear, through its statement on 3 April, that it expects to be able to recommend one of the informal approaches it has received at its AGM on 23 May, it is understood.
The exchange said it had been in contact with a number of potential partners who had given it the impression it would be their �preferred partner�. Euronext might be including the London Stock Exchange in this group, but was not thinking of Deutsche Boerse, it was said.
The LSE privately admitted yesterday to having had conversations with Euronext, but said it was �miles away from negotiations�.
Euronext would not reveal the identities of the other interested parties, but pointed to recent speculation that the New York Stock Exchange and the two Chicago exchanges might be looking at it.
The New York Stock Exchange declined to comment. The Chicago Mercantile Exchange refused to say whether it had approached Euronext, but a CME spokesman said the exchange had already said it was interested in consolidating. Yesterday an insider at Goldman Sachs confirmed a rumor that Goldman was advising CME. The Chicago Board of Trade was unavailable for comment.
Euronext does not feel it has to make an announcement if "
