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NYSE CEO confident Euronext deal will go forward

NYSE CEO confident Euronext deal will go forward

The chief executive of the New York Stock Exchange's parent Thursday said its timetable for the acquisition of Euronext NV would not be derailed by a report on the deal from a French lobbying group.
NYSE chief John Thain said he remains confident that the transaction will go forward.
Thain spoke with reporters on a conference call after the report, by Paris Europlace, criticized both of Euronext's merger options _ the NYSE and Germany's Deutsche Boerse AG _ and said the pan-European exchange should first merge with Deutsche Boerse's stocks business, paving the way for fresh talks with the NYSE.
Although the NYSE and Euronext have a merger agreement, that plan still must be approved by Euronext shareholders, who also are being courted by Deutsche Boerse. It is unclear how much weight the Paris Europlace report will carry.
Shares of NYSE Group rose $1.82, or 2.4 percent, to $76.22 in early afternoon trading Thursday on the NYSE.
Thain reiterated that he remains open to adding more stock markets to the NYSE-Euronext combination, whether that means Deutsche Boerse's equities business or Italy's Borsa Italiana. His choice of words would seem to leave out Deutsche Boerse's clearing or derivatives businesses. Thain said that Euronext has been having ongoing conversations with Borsa Italiana but that he was not aware of any talks with Deutsche Boerse.
Thain also signaled that the NYSE's future international-expansion plans could make India a higher priority than China.
A newspaper in India, The Economic Times, has reported that the NYSE is in talks to buy a stake in the Bombay Stock Exchange. But Thain didn't reveal any specific plans and said the NYSE is now focusing on Euronext.
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Gaston F. Ceron is a correspondent for Dow Jones Newswires.