Chirac wants German Euronext deal

Stephen Beard Jun 7, 2006

TEXT OF STORY

MARK AUSTIN THOMAS: French President Jacques Chirac has pooh-poohed the American takeover of Euronext, the Paris-based stock exchange operator. Chiraq says he’d prefer a merger with the Germans. From the European desk in London, Stephen Beard has the story.

STEPHEN BEARD: President Chirac cannot veto the $10 billion merger between the New York Stock Exchange and Euronext, but he clearly disapproves of the deal. He said he would prefer the French-based company to be taken over by the German exchange, Deutsche Borse, as originally planned.

He was, says commentator Phillipe Chatenay, taking a swipe against the US and globalization — always a popular move with the French.

PHILLIPE CHATENAY: Many people in France believe that globalization is basically a disguise under which the American economy, American companies are taking over the world economy.

Chirac may not be able to block the transatlantic merger, but his remarks might encourage Deutsche Borse to counter bid.

In London, this is Stephen Beard for Marketplace.

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