D Boerse Says Brussels To Block NYSE Merger

Published February 1, 2012 10:18AM (EST)

BERLIN (AP) — Germany's Deutsche Boerse says the European Commission is to block its planned merger with stock market operator NYSE Euronext.

Deutsche Boerse AG said in a statement Wednesday that the European Union's executive body is prohibiting the merger because it found it to be inadmissible under competition law.

The German exchange said nearly a year ago that it was looking to buy NYSE Euronext for $10 billion, creating the world's largest exchange operator.

NYSE Euronext owns bourses in Paris, Lisbon, Brussels and Amsterdam, in addition to New York.

By Salon Staff

MORE FROM Salon Staff

Related Topics ------------------------------------------