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All voices matter
Euronext CEO says merger with Deutsche Boerse ‘makes sense’
- Euronext CEO Boujnah told the Financial Times a tie-up with Deutsche Boerse could create "planetary scale" infrastructure, reviving long-discussed merger talk.
reuters - Both stocks climbed on Monday, outperforming a weaker European market, with London Stock Exchange Group also gaining on the news.
reuters+1 - Boujnah is due to step down in May 2027, and analysts at Kepler Cheuvreux cautioned his successor may take a different view on a combination.
reuters
Shares in Euronext and Deutsche Boerse rose on Monday after Euronext CEO Stephane Boujnah told the Financial Times that merging the two exchanges' businesses would make strategic sense, reviving long-discussed combination talk between Europe's two largest exchange operators.
"One deal that would make sense is the merging of the exchanges business," Boujnah said in the interview, while stressing that no talks were currently taking place between the two groups. He added that a tie-up could create a pan-European market infrastructure with "planetary scale," though any transaction would face significant antitrust hurdles.globalbankingandfinance+1
By midday trading in Europe, Euronext shares were up around 2.2% and Deutsche Boerse had gained roughly 3%, outperforming a slightly weaker broader European market, according to Reuters. The Wall Street Journal News Corp reported Deutsche Boerse shares surged 3.3%. Both stocks are up around 26% so far in 2026.reuters+1
Leadership Transition Looms
The remarks carry added weight given Boujnah's planned departure as CEO in May 2027. Kepler Cheuvreux noted that no successor has yet been chosen and identified CFO Giorgio Modica as a leading internal candidate, cautioning that a future leadership team "might have different thoughts on the matter".reuters+1
Boujnah's comments echoed remarks he made at an Italian parliamentary hearing in May, when he said a merger would make sense but was unlikely in the near future.reuters
Policy Backdrop
The renewed merger speculation comes as European policymakers explore ways to deepen the bloc's capital markets and boost competitiveness against the United States. Any deal between the two would combine major European trading, clearing, and market infrastructure operations but would require approval from competition authorities and multiple regulators across several countries.economictimes+1
Shares in the London Stock Exchange Group also gained 3.8% on the day, according to Reuters.globalbankingandfinance
Sources (5)
- 1 Euronext, Deutsche Boerse gain after CEO revives merger talk www.reuters.com
- 2 Euronext, Deutsche Boerse gain after CEO revives merger ... www.globalbankingandfinance.com
- 3 Euronext, Deutsche Boerse Shares Rise After CEO's Merger Comments www.wsj.com
- 4 Global Market: Euronext, Deutsche Boerse shares rise on renewed merger talks economictimes.com
- 5 Euronext stock rises on revived Deutsche Boerse merger talk www.ad-hoc-news.de
