Deutsche Boerse targets Euronext

The German stock exchange Deutsche Boerse has announced that it will be holding talks with rival Euronext about a possible merger.

The Frankfurt-based exchange has stated that it has no plans to place a bid for the London Stock Exchange and will resume talks with the Euronext.

Deutsche Borse spokesman Walter Allwicher told the New York Times: "We have been quite clear that we consider Euronext the most attractive of all relevant consolidation options that are available to us. That's why we have invited them into discussions. Euronext has responded to our invitation."

Earlier this week Euronext chief executive officer, Jean-Francois Theodore, announced at a press conference in Paris that the European stock exchange was prepared to work with Deutsche Borse on a merger deal as soon as possible.

Deutsche Borse and Euronext have been holding intermittent merger talks over the past 15 months, but both now appear determined to move forward.

Analysts are predicting that US stock exchange operator Nasdaq will raise its £2.4 billion ($4.1 billion) takeover bid for the London Stock Exchange. Consolidation of the stock exchange market appears to be on the cards this year.

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