Banks to clash with European exchanges / German bid for Euronext ditched

A group of the world's biggest investment banks announceed 15 November 2006 plans to build a platform for trading the shares of Europe's biggest companies in an effort to go head-to-head with the region's stock exchanges.

The gambit comes as Deutsche Börse is preparing to withdraw its bid to merge with Euronext in a move that could clear the way for NYSE Group's agreed bid for the Paris-based stock exchange.

BBC News, 15.11.06: German bid for Euronext ditched http://news.bbc.co.uk/1/hi/business/6149626.stm

Deutsche Borse: Press Release, 15.11.06: Deutsche Borse No Longer Pursues Combination with Euronext http://deutsche-boerse.com/dbag/dispatch/en/listcontent/gdb_navigation/press/10_Latest_Press_Releases/Content_Files/13_press/November_2006/pm_news_151106.htm

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