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LSE sells Borsa Italiana for $5 billion

LSE sells Borsa Italiana for $5 billion

The deal is subject to several conditions, including the completion of the Refinitiv deal

Stocks impacted: London Stock Exchange Group (LSE), Euronext (ENX)

London Stock Exchange has accepted a 4.325 billion euro ($5.09 billion) cash offer by pan-European bourse operator Euronext for the Milan stock exchange Borsa Italiana. The London stock-exchange operator said it will also receive an additional amount reflecting cash generation to completion. The LSE decided to sell Borsa Italiana to pave its way for the acquisition of data provider Refinitiv. As a reminder, around a month ago, the LSE announced entering into exclusive talks with Euronext. Euronext itself runs six exchanges across the continent. Last year, Euronext bought Oslo Bors for £570 million. Borsa Italiana has been part of the London Stock Exchange Group since October 2007, when the two merged. LSE said it expects to complete the Refinitiv deal by the end of 2020, or early 2021.

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