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UPDATE 1-Deutsche Boerse rockets on news in talks to buy NYSE

Published 02/10/2011, 03:26 AM
Updated 02/10/2011, 03:28 AM

* Deutsche Boerse shares up 6.2 percent

* NYSE Euronext Paris-listed stock up 8.3 percent

(Adds opening, prices, fresh quote)

FRANKFURT, Feb 10 (Reuters) - German group Deutsche Boerse's shares soared on Thursday, boosted by news it was in talks to buy U.S. peer NYSE Euronext in what would create the world's largest stock exchange.

Deutsche Boerse, trading in whose stock was halted on Wednesday afternoon along with that of NYSE Euronext, was 6.2 percent higher at 0820 GMT, while NYSE Euronext's Paris-listed shares were up 8.3 percent.

"We welcome (the) announcement as we understand that a merger of the ... exchange operators should be highly beneficial for the shareholders of both companies due to significant synergy potential," Christian Muschick, an analyst at Silvia Quandt in Frankfurt, said.

Deutsche Boerse and NYSE Euronext said they could cut annual costs by 300 million euros ($411 million) in a merger, adding no agreement had been reached yet. (Reporting by Christoph Steitz; Editing by Dan Lalor) ($1 = 0.7308 euro)

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