Euronext’s Stock Exchange owner is exclusively talking with his branch representative London Stock Exchange (LSE) about a takeover of Borsa Italiana. LSE and Euronext announced it after the British had gone through all the bids on the Italian Stock Exchange manager. Euronext is the company behind the stock exchanges in Amsterdam, Paris, Lisbon and Dublin.
According to the expertd, Euronext, which cooperates with the Italian state lending provider CDP and the Italian bank Intesa Sanpaolo, had not made the highest bid. SIX, the manager of the Swiss stock exchange, would have more money for the Milan Stock Exchange and MTS, a platform active in government bonds.
Both LSE and Euronext stress that it is not certain that the talks will lead to a deal. If that happens, CDP and Intesa Sanpaolo will become shareholders of Euronext. That share issue brings in part of the purchase price, the rest wants to pay for Euronext with cash and borrowed money. Euronext points out that Borsa Italiana, like all the grants that are part of the company, remains largely independent.
LSE sells Borsa Italiana on behalf of the European Commission. The sale was a condition for approval of the acquisition of data supplier Refinitiv by the UK stock exchange company.