Euronext and CDP Equity in talks with LSEG to acquire Borsa Italiana

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Euronext and CDP Equity have announced that they have entered into exclusive talks with the London Stock Exchange to acquire Borsa Italiana group along with Intesa Sanpaolo. The potential combination of Borse Italiana and Euronext is expected to strengthen the company’s position in the European capital markets.

The company stated that Italy is expected to become one of the largest revenue contributors to the enlarged Euronext group, via Borse Italiana. The country would also be represented at the group level of the firm’s governance by Italian representatives, in the Reference Shareholders, the Supervisory Board, the Managing Board and the College of Regulators supervising Euronext group’s activities.

CDP Equity and Intesa Sanpaolo would join the existing group of Euronext’s long-term Reference Shareholders through the subscription of a reserved capital increase, with CDPE acquiring a stake in line with those held by the reference shareholders, and having a representative at the Supervisory Board of Euronext. Borse Italiana will maintain its current functions, structure and relationships, with its Italian CEO joining the Managing Board of Euronext. The CEO of MTS would join the extended Managing Board, alongside the other key leaders of large business units and key central functions of Euronext.

The new group will have its key businesses and central functions based in Milan and Rome. The companies stated that further announcement regarding the proposed transaction would be made soon.

Euronext is a pan-European market infrastructure that aims to connect local economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, The Netherlands, Norway and Portugal.