Euronext Submits Offer to Buy Borsa Italiana From LSE Group

   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 [e-mail]

(END) Dow Jones Newswires

September 14, 2020 01:58 ET (05:58 GMT)

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