Saturday, February 12, 2011

More big money merging: Deutsche Borse and NYSE Euronext in talks to create TransAtlantic powerhouse

Shares in both the German bourse and NYSE, which also own Euronext, the Paris-based stock exchange, were temporarily suspended before a joint statement was issued in Frankfurt and New York.

"In light of recent market rumours, Deutsche Borse AG and NYSE Euronext (NYX) today confirmed that they are in advanced discussions regarding a potential business combination," the statement said.

It cautioned that no agreement had been reached.

Sources said the two stock exchanges, whose combination would create a powerful pan-European and American stock exchange, have been in talks about a merger for several weeks.

A German magazine, Bernecker Börsenbriefe, reported that the exchanges wanted to merge because of large cost synergies.

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