Swedish agency broker and systems supplier Neonet has confirmed it is in takeover talks. The confirmation comes a day after German newspaper Handelsblatt reported that Deutsche Börse was lining up a bid.
The German stock market operator has declined to comment on the report, which follows the abandonment of recent merger talks with Nyse Euronext.
In a statement issued Tuesday, Neonet comments: "Following media speculation, Neonet confirms that it is in exploratory discussions with a counterpart regarding possible forms of cooperation. Neonet further confirms that no offer has been received by the company."
Neonet has a market capitalisation of almost $80 million and provides clients in over 20 countries with trading systems and software services. A buy-out would see the company valued in the high double digit million euros area.
A takeover by Deutsche Börse would mark the first attempt by an established exchange in Europe to expand into the broking business, further eroding the barriers between investment banks, exchanges, and alternative trading systems in the post-MiFID arena.