D Boerse Says Brussels To Block NYSE Merger
February 1, 2012 3:18PM (UTC)
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.
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