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London Stock Exchange to sell Borsa Italiana to Euronext for €4.3bn
The London Stock Exchange Group (LSE) has agreed to sell Borsa Italia to French rival Euronext for at least €4.33bn (£3.95bn, $5.09bn).
The stock exchange operator announced the sale on Friday, and said it would also receive “an additional amount reflecting cash generation to completion.”
It had begun exclusive discussions with Euronext over a sale on 18 September.
LSE expects the sale of the Italian stock exchange in Milan will overcome a regulatory obstacle at EU level to its purchase of data firm Refinitiv.
“We continue to make good progress on the highly attractive Refinitiv transaction and we are pleased to have reached this important milestone.