Euronext in talks to buy Borsa Italiana
CDP would get about 8% of Euronext in the deal
Stocks impacted: Euronext (ENX)
Euronext NV said that it is in talks with Cassa Depositi e Prestiti to submit an offer for the acquisition of Borsa Italiana from London Stock Exchange Group PLC. The offer is set to value the business at as much as 4 billion euros ($4.7 billion). CDP would get about 8% of Euronext in the deal. As a reminder, Euronext operates stock exchanges in Dublin, Paris, Amsterdam, Brussels, London and Lisbon. Euronext had granted CDP significant influence in the combined business to secure an alliance with the Italian state agency in the competition for Borsa Italiana. The deadline to submit non-binding bids for Borsa may have been postponed to September 14. Euronext stocks edged up over 1% on Friday.
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