European stock exchange operator considers options for blocking London Stock Exchange-Deutsche Boerse merger

William Turvill
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Inside The London Stock Exchange
The London Stock Exchange and Deutsche Boerse announced details of a £21bn merger last month (Source: Getty)

Euronext is considering options on how to block the London Stock Exchange-Deutsche Boerse merger.

The European stock exchange operator is said to be consulting with advisers, considering lobbying in favour of a counter-bid for LSE from Intercontinental Exchange (ICE) and arguing against the merger to regulators in Brussels.

Read more: London Stock Exchange battle heats up

News of the movements from Euronext will come as no surprise to LSE chief executive Xavier Rolet.

In an interview with City A.M. earlier this month, he suggested Euronext was asking regulators to side with ICE so it could buy Borsa Italiana and Clearnet from LSE to "recreate" itself.

Rolet added: “Look, they’ve missed [the boat] – they’ve sold out to the Americans, they have nothing left. We don’t want to make the same mistake.”

Read more: Capitalism, not politicians, must decide stock exchange merger

Euronext, anticipating an ICE takeover would see parts of LSE like Borsa Italiana spun off, has hired BNP Paribas and Rothschild to advise on potentially buying assets, Bloomberg reported.

Euronext, BNP Paribas and Rothschild declined to comment.

The chief executives of LSE and Deutsche Boerse met with European Union Financial Services Commissioner Jonathan Hill this week.

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