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German firm prepares formal bid to run London Stock Exchange.

Knight Ridder/Tribune Business News, December, 2004

By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News

Dec. 16--Werner Seifert, head of Germany's Deutsche Borse intends to send a formal document to the London Stock Exchange addressing concerns over clearing, settlement and regulation in the hope of pushing through an agreed deal.

Arch-rival Euronext is thought to have made an informal approach to the LSE about a counter-offer. There were a few red faces at Euronext yesterday after its second technical blunder in a week. Trading at its Paris, Amsterdam, Brussels and Lisbon exchanges was disrupted for more than two hours due to an electronic breakdown.

Euronext has beefed up its team of advisers, taking on ABN Amro and Morgan Stanley alongside UBS, in a further...

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