Deutsche Boerse denies merger talks
BUSINESS / 25 Feb '13, 5:00pmBy: SAPA
Frankfurt - German stock market operator Deutsche Boerse denied on Monday that it is in merger talks with CME Group in the United States after corresponding rumours had sent the company's share price soaring nearly 12 percent.
“Deutsche Boerse AG is not in merger negotiations with CME Group,” the company said in a brief statement.
“As repeatedly communicated, Deutsche Boerse group's primary strategic focus is on organic growth, mainly by expanding its business into growth regions in Asia, extending its services for unsecured and unregulated markets, and expanding its combined market data and IT business,” the statement said.
Earlier, the rumours had sent Deutsche Boerse shares to an intraday high of 52.30 euros, a gain of 11.5 percent over the closing share price on Friday.
Following the company's denial, the shares fell back sharply to trade about 4.0 percent higher than on Friday in a market that was up by around 3.0 percent. - Sapa-AFP