The company that operates the New York Stock Exchange could soon be acquired by a European company in a deal that could be announced as soon as next week.
NYSE Euronext, the company that owns the New York Stock Exchange and stock and derivatives markets throughout Europe, has confirmed it's in advanced talks with Deutsche Boerse, which owns the Frankfurt Stock Exchange. The deal would create the world's largest financial exchange with headquarters in both Europe and the U.S.
Deutsche Bourse would control 60 percent of the shares, which means the ownership of the iconic New York Stock Exchange would be in foreign hands for the first time.
The deal has to be approved by regulators in both the United states and Europe who have expressed reservations about such a merger in the past. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.