Italian stock exchange operator Borsa Italiana is looking to cash in on the rapid consolidation of Europe's stock exchanges by floating on its own market and forging an alliance with the London Stock Exchange (LSE).
In a short statement the exchange says it is holding meetings today "to examine the hypothesis of floating the company on the Italian electronic equity market".
According to Italian daily Finanza & Mercati, Borsa Italiana could place around 30% if its capital on the market through the issue of new shares, raising about EUR240m. The IPO is expected to be held in June.
Following the floatation, the exchange is expected to pursue a partnership with another exchange, with the LSE considered the most likely.
In December Borsa Italiana chief executive Massimo Capuano told reporters that the exchange must find an international partner and be part of the consolidation process that is sweeping the industry. Capuano said London was the "most interesting" marketplace.
Last July the Italian exchange teamed with Euronext to acquire a 51% controlling stake in the European fixed network MTS.