LSE doubts boost bidders' shares Shares in Deutsche Boerse have risen more than 3% after a shareholder fund voiced opposition to the firm's planned takeover of the London Stock Exchange. TCI, which claims to represent owners of 5% of Deutsche Boerse's (DB) shares, has complained that the £1.35bn ($2.5bn) offer for the LSE is too high. Opposition from TCI has fuelled speculation that the proposed takeover could fail. Rival exchange operator Euronext has also said it may bid for the LSE. Euronext operates the Paris, Amsterdam, Brussels and Lisbon bourses, while Deutsche Boerse runs the Frankfurt exchange. BBC News spoke to a number of analysts on Monday morning about shareholder worries over Deutsche Boerse's bid for LSE. Although none were prepared to speak on the record, most thought it was unlikely that TCI's opposition would halt the deal "Obviously we'll have to wait and see, but I don't think it will make much difference. Deutsche Boerse appears very committed," said one London-based broker. He forecast the takeover bid would succeed and was more concerned to see improvements in the daily running of the LSE. In voicing its opposition to the planned takeover, TCI said it would prefer to see Deutsche Boerse return $500m (£350m) to shareholders. The Deutsche Boerse was prepared to pay for the LSE "exceeds the potential benefits of this acquisition", said TCI. Another Deutsche Boerse shareholder on Monday also appeared to back TCI's call. Another investor in Deutsche Boerse has supported the view that a payout to shareholders would be preferable to Deutsche Boerse overpaying for the LSE, Reuters news agency reported. "We prefer a sensible entrepreneurial solution at a price that is not too high," said Rolf Dress, a spokesman for Union Investment. "If that cannot be achieved, then we would wish for a distribution of liquid assets to shareholders." The Financial Times also reported a third Deutsche Boerse shareholder as opposed to the deal. It quoted a spokesman for US-based hedge fund Atticus Capital complaining that the planned takeover appeared to be motivated by "empire-building" rather than the best interests of shareholders. TCI has called for Deutsche Boerse to hold an emergency general meeting to discuss the bid for LSE. Yet under German business law, DB does not have to gain shareholder approval before making a significant acquisition. Deutsche Boerse said TCI's opposition would not change its bid approach. "Deutsche Boerse is convinced that its contemplated cash acquisition of the London Stock Exchange is in the best interests of its shareholders and the company," it said. DB's shares were up 3.4% to 45.25 euros by 1030 GMT, the highest gainer in Frankfurt.