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LSE would consider the sale of the Italian stock exchange as part of the regulatory resources necessary to cancel its purchase of Refinitiv for $ 27 billion.
LSE would consider the sale of the Italian stock exchange as part of the regulatory resources necessary to cancel its purchase of Refinitiv for $ 27 billion.
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London Stock Exchange Group is in exclusive negotiations with Euronext as part of the sale of the Italian Stock Exchange. We read it in a note. The decision, according to the Reuters news agency, was made after examining a group of competitive offers for the Milan stock exchange.
In late July, LSE said it would consider selling the Italian stock exchange as part of the regulatory remedies necessary to cancel its $ 27 billion purchase of Refinitiv. Data provider Refinitiv is 45% owned by Thomson Reuters, the parent company of Reuters News.
Euronext’s offer also includes Italian companies Cassa Depositi e Prestiti and Intesa Sanpaolo, which will become shareholders of the French exchange operator if the offer is successful by signing a capital increase proposal.
“The proposed merger between Borsa Italiana and Euronext would create a leading operator in the capital markets of continental Europe.” It can be read in a note from Euronext-Cdp: “This transformation project would position the new group to realize the ambition of continuing to create the infrastructure of the Capital Markets Union in Europe, while supporting local economies.”
Euronext-Cdp: the exchange will maintain the Italian identity
Borsa Italiana would maintain its current functions, structure and relationships within the Italian ecosystem, preserving its Italian identity and strengths. Borsa Italiana’s Italian CEO would join Euronext’s board of directors. The CEO of Mts would join the extended Board of Directors, together with the other leaders of the large business units and the main central functions of Euronext, assuming responsibility for the fixed income trading activity of the entire group.
