The drama playing out between Eu-rope's top financial exchanges is becoming even more gripping, thanks in part to restless shareholders. With the three biggest listed exchanges-the London Stock Exchange (LSE), Euronext and Deutsche Boerse-facing ever more speculation about cross-border alliances, two smaller bourses in Europe are preparing to go public and possibly join the throng. On May 23rd Euronext's shareholders will vote on a resolution proposing that management pursue a merger with Deutsche Boerse. The move is backed by groups of investors, notably hedge funds, controlling at least a third of Euronext's shares.
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