Euronext plans merger with NYSE
Paris: European stock exchange operator Euronext would ask its shareholders to approve its planned merger with NYSE Group parent of the New York Stock Exchange, at an extraordinary meeting on December 19. The full details of the agenda of the extraordinary shareholders meeting, to be held in Amsterdam, would be issued by December 1.

In June this year Euronext accepted a $10 billion takeover proposal by NYSE and has to obtain a go ahead from European regulators in countries where its businesses are based.

French markets regulator AMF said on Thursday the rulings would be made by the start of December.

Euronext operates the Paris, Amsterdam, Lisbon and Brussels bourses as well as London's Euronext Liffe derivatives market.

Euronext and NYSE plan to put management of the units under a Dutch foundation to keep them out of reach of U.S. regulations such as Sarbanes-Oxley.
Back to News Review index page  

Microsoft files revised antitrust documents with EU
Brussels: Microsoft Corp. has filed revised documents with the European Commission to comply with a landmark antitrust decision from 2004, the European Commission said. However it will only be clear after a few months before it is clear whether the submission is sufficient to avoid a fine that could be as high as 3 million euros ($3.9 million) a day. The Commission had ruled in 2004 that Microsoft had abused its dominant position in the market because Windows, used on more than 95 per cent of the world's personal computers, allowed too little interoperability for other software makers.

The Commission's decision, it recalled, required Microsoft to "disclose and license complete and accurate interface documentation which would allow non-Microsoft work group servers to achieve full interoperability with Windows PCs and servers."
Back to News Review index page