Euronext's largest shareholder - Childrens Investment Fund (TCI) - has applied pressure on the exchange to allow a shareholder vote on a Deutsche Börse merger despite Euronext's detailing of the timeline for its proposal to merge with New York Stock Exchange (NYSE).
Chris Hohn, MD of TCI, demanded that Euronext publicly disclose its intentions as to whether or not it would allow shareholders to vote on a Deutsche Börse merger as well as the proposed deal with NYSE, during a conference call for Euronext's first half results on 30 August.
Hohn asked that Euronext either disclose its intention to allow such a vote or should it decide not to, TCI would seek to use its weight as a 9.95% shareholder in the exchange to bring that deal to shareholders' attention.
"We have a...