FRANKFURT--Germany's Deutsche Boerse AG (DB1.XE) is not
interested in pursuing an acquisition of the European business of
bourse operator NYSE Euronext (NYX), a person familiar with the
matter said Wednesday.
NYSE Euronext, which is being acquired by peer
IntercontinentalExchange Inc. (ICE), wants to spin off its Euronext
unit which operates stock markets in Paris, Amsterdam, Brussels and
Lisbon, as well as Liffe, a derivatives market based in London.
Euronext has become much less attractive than in the past, the
person said. Deutsche Boerse failed early last year with a proposed
merger with NYSE Euronext and had previously tried to acquire
Euronext, which tied up with the New York Stock Exchange in
2007.
Euronext has commissioned a rival clearing house and there
wouldn't be any opportunity to reap synergies with Deutsche
Boerse's Clearstream subsidiary, the person said. The clearing
business is said to offer particularly high margins for the
provider.
Euronext's remaining business is less attractive, the person
said.
A Euronext acquisition would come at an unfavorable time for
Deutsche Boerse because declining order volumes have weighed on the
German company's business last year. Banks have reduced their
trading activities due to higher capital requirements, which is
weighing on order volumes.
--Friedrich Geiger contributed to this article.
Write to Madeleine Nissen at madeleine.nissen@dowjones.com
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