Euronext Submits Offer to Buy Borsa Italiana From LSE Group
September 14 2020 - 02:13AM
Dow Jones News
By Adria Calatayud
Euronext NV said Monday that it has submitted a non-binding
offer to acquire Borsa Italiana from London Stock Exchange Group
PLC.
The Pan-European exchange said the bid was submitted in
partnership with Italian lenders Cassa Depositi e Prestiti Equity
and Intesa Sanpaolo SpA. There can be no certainty that this will
lead to a transaction, Euronext said.
Euronext said a combination with Borsa Italiana would create a
leading player in continental European capital markets, and that
Italy would be the largest revenue contributor to the enlarged
group.
On Friday, the company said it was in talks with Cassa Depositi
e Prestiti to submit an offer for the acquisition of Borsa Italiana
from LSE Group.
On the same day, Deutsche Boerse AG said it had submitted an
offer for the acquisition of Borsa Italiana.
Exchange operator LSE Group in July said it was in exploratory
talks to sell its interest in Italian fixed-income trading market
MTS SpA--or potentially the Borsa Italiana as a whole--in order to
satisfy the European Commission regarding its own deal to acquire
data provider Refinitiv.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
September 14, 2020 01:58 ET (05:58 GMT)
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