Furse opens Stock Exchange books

THE London Stock Exchange has opened its books to rival suitors Deutsche Borse and Euronext in a bid to give a fresh lease of life to the long-winded battle to win its hand.

Shares in the LSE dropped 6p to 533p, only just above Deutsche's 530p a share proposal, which has twice been rejected by London boss Clara Furse.

They reached a peak of 600p after Deutsche's £1.35bn overture in December. Observers believe Furse is keen to inject a fresh fillip into her courtship by Deutsche's Werner Seifert and Euronext's Jean-Francois Theodore. Loss of interest by either or both suitors would be a nightmare, transforming her at a stroke from belle of the ball to wallflower.

She may be hoping that providing a data room to her beaux will inspire them to put forward firm bids ahead of a decision by the Office of Fair Trading on whether or not to refer any tie to the Competition Commission. City sources said Deutsche B0rse has edged in front, though cynics might see this as a ploy by the LSE to pique Euronext.

A number of shareholders, including Fidelity, which owns around 6% of the German market, have come out against Deutsche's bid. Fidelity has been selling shares in the LSE and now holds just under 5%. The American investor is also a significant shareholder in Euronext, but has remained coy on its views on the merits of Theodore's bid.