Why Euronext abandoned the battle for BME

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SIX completed a CHF 2.75 billion takeover of Spanish rival BME this month. Described by the Swiss exchange as a “major milestone,” the deal gives SIX a foothold within the European Union. BME had also attracted interest from Euronext but that operator pulled out of the race in March without making an official offer. CEO Stéphane Boujnah explains why his company walked away from the deal.