Reuters: Regulatory News: Deutsche Boerse to focus on alliances

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Deutsche Boerse to focus on alliances Apr 3rd 2012, 17:48 FRANKFURT, April 3 | Tue Apr 3, 2012 1:48pm EDT FRANKFURT, April 3 (Reuters) - Deutsche Boerse's Chief Executive Reto Francioni said the operator of the Frankfurt Stock Exchange would pursue alliances with peers rather than takeovers the size of the failed tie-up with NYSE Euronext. "Our focus is on international partnerships and cooperation," Francioni said in a speech late on Tuesday. "There are no plans for bold moves," he told Reuters afterwards. The remarks come after European antitrust regulators in February scotched an attempt to buy NYSE Euronext on concerns this would create a dominant player in European listed derivatives. In February, European Competition Commissioner Joaquin Almunia blocked the takeover because it "would have led to a near-monopoly in European financial derivatives worldwide". The costs of the failed NYSE Euronext deal amount to 82.2 million euros ($108.6 million) for 2011, Deutsche Boerse has said. Global stock exchanges have been in a merger frenzy as aggressive, upstart trading platforms have eaten deeply into the market shares of traditional players such as Boerse and NYSE, putting pressure on them to consolidate and to cut costs.

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