Euronext has not ruled out combining with Deutsche Börse, its closest European rival, according to comments from outgoing chief executive Stéphane Boujnah reported by the Financial Times.
Boujnah, who steps down next year, revisited the long-running idea of a pan-European exchange group of vast scale.
A combination — whether a full merger or just the exchanges businesses — could deepen liquidity across the region’s capital markets as Brussels’ Market Integration and Supervision Package moves to centralise oversight of key infrastructure. Boujnah didn’t rule out a full merger, though he warned any deal would face heavy regulatory hurdles. He said combining the exchanges “would make sense,” adding that no talks are currently under way.
It’s not the first time he’s floated such ideas: Boujnah previously discussed a possible Euronext–Euroclear combination, and told an Italian parliamentary hearing in May that Euronext had already sought a Deutsche Börse merger three times without success.
