Menage a trois; Financial exchanges.(Euronext N.V., Deutsche Borse AG and their shareholders)
Economist (US), The, September, 2005
Something for Theodore to think about
Shareholders stir things up again at Europe's big exchanges
THE suggestion may have been a warning shot rather than a serious proposal. Nevertheless, the thought offered this week by Harris Associates, a Chicago investment firm, that Euronext and Deutsche Borse should merge with each other rather than pursue the London Stock Exchange (LSE) caused a flutter on the other side of the Atlantic. Harris's opinion counts because it owns shares in both suitors, which are also rival financial exchanges. Other shareholders are reported to share its views. Not surprisingly, neither exchange is saying anything.
Deutsche Borse's interest in the LSE is in abeyance: a shareholder revolt against it cost Werner Seifert,...
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