In response to the flurry of recent media and market speculation, Euronext has confirmed that it is in a “number” of active consolidation discussions that are “progressing rapidly.”
In a statement released on Thursday, Euronext said that these talks are a symptom of the current exchange environment, where, in recent months, the rush to consolidate has heated up (most recently with Nasdaq upping its stake to 24% in the London Stock Exchange).
“It is very clear from moves across the exchange industry that the process of global consolidation is well underway, and Euronext is committed to playing a leading role in these developments,” the press release stated. While reports have confirmed that Brussels-based Euronext is in talks with both the NYSE Group and Deutsche Boerse, there have been other names thrown out including the Chicago Mercantile Exchange and Italy’s Borsa Italiana SpA.
Euronext’s partner may not be solidified yet, but the timetable for a proposed partnership is: “The Managing Board is actively assessing the different options as they evolve, and the Supervisory Board will review the status of discussions when it meets prior to the Annual General Meeting on May 23rd,” the statement continued. “Euronext will outline the most attractive options to shareholders at the AGM, with the goal of finalising an agreement as soon as practicable thereafter.”