PARIS Jan 22 Pan-European financial market
operator Euronext aims to get regulators' backing for its
spin-off from NYSE Euronext this or next month, its CEO said on
Euronext is due to be spun off in a 1 to 1.5 billion-euro
($1.4-$2.0 billion) listing after Atlanta-based
IntercontinentalExchange (ICE) merged with New York Stock
Exchange parent NYSE Euronext in November.
Euronext Chief Executive Dominique Cerutti said that first
they needed clearance from regulators in Belgium, Britain,
France, Portugal and the Netherlands, countries where the
company operates exchanges.
"We need new clearance which we hope to get at the end of
January or in February," Cerutti said in a New Year's address,
adding that then the company could begin procedures for an
initial public offering.
The French government and regulators have for months been
pushing banks and insurers to take a large stake in Euronext,
but they have shown little enthusiasm for the idea.