Euronext chief executive Stéphane Boujnah has indicated the company is open to a merger with rival Deutsche Börse or a tie-up between their stock exchange businesses. Speaking to the Financial Times, Boujnah emphasized that such a combination could create a European market of "planetary scale," boosting liquidity and competitiveness. Euronext, which operates in eight countries including Paris, Amsterdam, and Milan with a market capitalization of €16 billion, and Deutsche Börse, valued at approximately €50 billion and running the Frankfurt stock exchange, have discussed these possibilities for decades.

While Boujnah cautioned that regulatory hurdles remain significant, he noted the deep Euronext equity market and the shallow German market present ample synergies. The executives mentioned Germany, France, and Italy as key economies to address. Despite previous failed attempts blocked by the European Commission in 2012, and a 2006 withdrawn bid, the current EU shift toward allowing European deals to compete with global rivals may facilitate progress.

German Chancellor Friedrich Merz has also advocated for a single European stock exchange. Any merger would need to make economic sense for shareholders, according to Boujnah, who warned against political top-down approaches. Deutsche Börse reiterated there are currently no conversations regarding a merger.