Deutsche Boerse/Euronext Bizarre love triangle

The geometry of European stock exchange mergers has just changed radically. There are still three big exchanges – the London Stock Exchange, Franco-Dutch Euronext and Deutsche Boerse. And there can still be only one tie-up, leaving the third player on the shelf. But six months ago, a deal between the French and Germans was unthinkable, not least because there were two powerful nationalistic bosses each of whom wanted the top job. That left the LSE free to play the field. Now it’s a deal between ...