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SIX Swiss Exchange denies report it could buy an EU-based bourse

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SIX Swiss Exchange denies report it could buy an EU-based bourse
FILE PHOTO: A logo logo is seen at the seat of Swiss stock exchange operator SIX Group in Zurich, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann   -   Copyright  ARND WIEGMANN(Reuters)
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ZURICH (Reuters) – Swiss financial infrastructure group SIX Swiss Exchange is not looking to buy a bourse based in the European Union, it said on Friday, denying a report it could do so amid squabbling between Switzerland and the EU over a stalled treaty.

Bloomberg, citing unidentified sources, had reported that SIX was weighing such an acquisition if an EU ban on trading Swiss stocks in the bloc – in effect since July – persisted or the situation worsened.

Switzerland responded by banning the trade of Swiss equities on EU bourses, forcing more volume onto Swiss exchanges.

“The protective measures taken by the Federal Council (Swiss government) have an excellent effect and they work. That is the reason why we are not looking at buying any stock market in Europe. There is no need to do that,” a SIX spokesman said.

SIX is interested only in potential acquisitions to strengthen its financial information business, he reiterated.

SIX, owned by around 130 banks, is on the lookout for acquisitions, its finance chief said in March.

(Reporting by Michael Shields; Editing by Mark Potter)

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