Euronext reportedly looking to block LSE-Deutsche Boerse merger

Rick Steves

The “merger of equals” between the London Stock Exchange and the Deutsche Boerse has been the focus of extended discussion involving not only leaders of the financial sector but also politicians. Not only has there been resistance to the merger among some in both German and British side, but now the stock exchange operator Euronext […]

Euronext reportedly looking to block LSE-Deutsche Boerse merger

The “merger of equals” between the London Stock Exchange and the Deutsche Boerse has been the focus of extended discussion involving not only leaders of the financial sector but also politicians.

Not only has there been resistance to the merger among some in both German and British side, but now the stock exchange operator Euronext NV wants to add further pressure against a deal, arguing that it would hurt competition in the region.

It has been reported that Euronext, concerned of having its role in European trading at risk, is gathered with consultants and lawyers to prepare a case to bring to Brussels, where they will make their point to European regulators.

euronext

If a merger deal goes through, the combination between the London Stock Exchange and the Deutsche Boerse, market values at $14 and $16 billion respectively, would become the second biggest exchange in the world and potentially turn Euronext closer to irrelevant in the European scene, with a market value at $2.9 billion. With that scenario in mind, the firm is considering lobbying in favor of an imminent counterbid of the U.S. Intercontinental Exchange Inc., whose strategy is said to include selling Italian exchange Borsa Italiana and the French clearing unit, which might interest Euronext.

Some of the Euronext’s latest moves seem to suggest that much. After hiring BNP Paribas SA and Rothschild & Co. for purposes of asset acquisition advisory, the company named BNP Paribas banker Giorgio Modica – responsible for stock exchanges in Italian and Spanish markets at BNP Paribas and experienced in M&A of exchanges – as CFO earlier this week.

Read this next

Metaverse Gaming NFT

Astar Network’s ad features 329 top brands to support Web3 in Japan

Blockchain innovation hub Astar Network is making strides in promoting the Web3 adoption worldwide. In yet another milestone, the smart contracts platform has run a national newspaper ad in Japan that set a new global record with participation from 329 blue-chip firms.

Digital Assets

Pyth Network welcomes onchain data from crypto market maker Auros

“By sharing our high-frequency trading data with a truly onchain decentralized network, we aim to foster innovation that will lead to better financial solutions for all participants.”

Digital Assets

Tokeny integrates Ownera to boost liquidity of tokenized assets

“The adoption of FinP2P will result in higher liquidity and better access to capital and assets by providing regulated firms with one secure point of connection to multiple digital asset networks across the globe.”

Digital Assets

BingX launches subsidy vouchers to cover user losses in copy trading

“With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses.”

Digital Assets

Talos expands sales team: Frank van Zegveld, Matt Houston, Hillary Conley

“The extensive leadership and industry expertise of these new hires will enable us to build long-lasting relationships as we continue to build out our global presence in EMEA and beyond.”

Executive Moves

FX and CFD broker Emporium Capital hires industry veteran Robert Woolfe as COO

His past experience within the FX and CFD industry includes top roles at Capital Index, London Capital Group, GKFX, ETX Capital, and IG.  “I’m delighted to be part of the Emporium Capital team and spearheading the brokerages global expansion plans”, he said about the appointment.

Retail FX

Hantec Markets wins six categories at Global Retail Forex Awards 2022

Hantec Markets has recently rebranded with a new website and a renewed growth strategy that features the #TimeToStrike hashtag to signify a time of renewed growth for the broker.

Industry News

Nexo sued for operating crypto brokerage without license and lying about it

“Nexo violated the law and investors’ trust by falsely claiming that it is a licensed and registered platform. Nexo must stop its unlawful operations and take necessary action to protect its investors.”

Industry News

Apex Group launches EU Taxonomy Solution as part of ESG offering

“Enabling our in-scope clients to demonstrate alignment with the EU Taxonomy is only the beginning – with over twenty green taxonomies in place, in development or under discussion worldwide it is crucial that investors act to understand and report taxonomy alignment data sooner, rather than later.”

<