Deutsche B ö rse may bid for Italian exchange

Deutsche B ö rse may bid for Borsa Italiana, in an attempt to woo the Italian exchange away from its merger talks with Euronext.

The French newspaper La Tribune reported today that Deutsche Börse's supervisory board was considering an offer for the Italian exchange. "The supervisory board has not discussed the details of an offer for Borsa Italiana... but Deutsche Börse is looking at every opportunity for a merger, especially as Euronext continues to reject our proposal," one board member told the newspaper.

Euronext turned down a merger bid from Deutsche Börse earlier this month, preferring a rival bid from the New York Stock Exchange. But Deutsche Börse continued to push for a merger, putting in a revised proposal this week - which has also now been rejected.

Meanwhile, Borsa Italiana continues its talks with Euronext, its preferred merger partner. Euronext said this morning that the discussions were focusing on "more detailed elements" of the merger. But La Tribune reported that sources close to the deal said there was little prospect of a formal bid in the immediate future.