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Tag: Borsa

Borsa Italiana sale, GDP growth, HSBC green vow

October 9, 2020
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| business

Palazzo Mezzanotte, the headquarter of Borsa Italiana. Photo: Nicol� Campo/Sipa USA
Palazzo Mezzanotte, the headquarter of Borsa Italiana. Photo: Nicol� Campo/Sipa USA

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and around the world:

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.

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LSE Agrees to Sell Borsa Italiana to Euronext for $5 Billion | Investing News

October 9, 2020
| No Comments
| business

PARIS/LONDON (Reuters) – Euronext

is to buy Borsa Italiana from London Stock Exchange

for 4.33 billion euros ($5.09 billion) in cash, the firms said on Friday, in a major expansion of the French operator’s network of European trading platforms.

LSE entered exclusive talks with Euronext last month after the Paris bourse owner saw off competition from Deutsche Boerse

and Swiss rival SIX.

LSE is selling Borsa as part of regulatory remedies to see through its $27 billion purchase of data provider Refinitiv, which is 45% owned by Thomson Reuters
, the parent company of Reuters News.

The sale is contingent on the European Commission formally stating it will only approve the Refinitiv deal if all or part of Borsa Italiana is sold.

“We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU’s competition concerns,” LSE Chief Executive David Schwimmer said in a statement.

Euronext,

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