Some of the biggest banking users of Euronext are reported to have formed a pact to push for the exchange to merge with Deutsche Börse and ensure that hedge funds do not dictate the terms. The six banks speak for about 10% of the shares.

French newspaper, Les Echos, claims French banks Société Générale, BNP Paribas and Crédit Agricole have lined up with Dutch groups Fortis and ABN Amro and Portugal's Banco Espirito Santo for the pact.