BRUSSELS (AFX) - The European Commission said the deadline for its inquiry into the proposed merger between Deutsche Boerse AG and Euronext NV is set for Nov 21.
Euronext's board has agreed a merger with NYSE Group Inc, but the plan has yet to be voted on by shareholders, some of whom have said they prefer Deutsche Boerse's proposal.
Analysts have said a Deutsche Boerse-Euronext merger could raise objections from the commission, notably because the integration of Euronext's Euronext.liffe and Deutsche Boerse unit Eurex would create a financial derivatives market with a large majority of European business.
Euronext has said it is in favour of Deutsche Boerse transferring its equities business to the Paris-based group in return for a 15-20 pct shareholding, but Deutsche Boerse has said this offer is 'unattractive'. simon.zekaria@afxnews.com sz/cmr COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited