LSE expected to dispose of Dutch Trading service |
|
|
Published
:
Fri, 20 May 2005 18:55
|
The London Stock Exchange recuperated from its low 117 floatations last year to record a doubled 366 floatations this year, taking full year pre-tax profits to £89.1m from the erstwhile £88.8m last year.
Meanwhile, the chief executive of LSE, Clara Furse, stated that the merging of LSE with European competitor, Euronext was going to be a ‘win-win’ situation, or beneficial for both the parties. According to media reports, Furse also gave signals that the Dutch arm of the London Exchange could be abandoned.
| She added that union of LSE with Euronext would see LSE’s worth placed at about 750 pence per share. This was calculated in accordance to the exchange’s separate value of 415-460 pence/share in addition to the 150m euro that the merger between the two was anticipated to create as synergy. Furse clearly said that the deal would have to be completed “on the right terms at the right price.”
The Financial Times additionally informed that the Exchange was contemplating the scrapping off its Dutch service, because it had managed to capture a meagre 2 % of the market ever since its inception in last May.
Furse was quoted saying, “We need to be doing a lot more. The decision to shift liquidity is up to the customers. You can lead a horse to the water but you can't make it drink.” She said that the Dutch trading service would have to be withdrawn once discussions with customers were over.
|
|
|
|
|
|
Print this Story
