Deutsche Bourse has confirmed that it is in talks with Refintiv over the acquisition of 'certain FX business units', following market speculation about a pending $3.5 billion swoop for multi-bank foreign exchange portal FXall.
In a statement, the German exchange says: "With regards to current market speculations, Deutsche Bourse AG confirms that it is currently in concrete negotiations with Refinitiv group concerning the potential purchase of certain FX business units."
The statement was issued a followed a Reuters report on the talks and possible purchase price.
The Bourse states: "The negotiations and assessments of a potential transaction are ongoing. The purchase price of 3.5 billion US-Dollar and the imminent signing of binding contracts mentioned in the market speculations are entirely unfounded."
Such a deal would fulfill the Exchange's stated aim of expanding its business beyond stock trading and enable Refinitiv to pay off some of the debt accumulated during its $20 billion leveraged buy-out from Thomson Reuters last year.