30 November 2015

Nyse Euronext enters bidding for Borsa Italiana

22 June 2007  |  4230 views  |  0 stock quotes

Nyse Euronext has waded into the bidding for Borsa Italiana, submitting a preliminary offer of EUR1.5 billion to rival the London Stock Exchange's valuation.

News of the proposed counter offer was reported by the Wall Street Journal. Nyse Euronext has yet to confirm the bid.

Borsa Italiana chief executive, Massimo Capuano, outlined a putative deal with the London Stock Exchange to board members at a meeting on Thursday. While the FT reports that no agreement was reached at the end of the meeting, Reuters was reporting late Friday that Capuano has been given the go-ahead to accept the LSE's offer.

Earlier on Thursday, the Italian market operator had exercised its call option right to purchase all the shares held by Euronext in MBE Holding, the joint venture company which owns 60.73% of electronic bond network MTS.

The acquisition of MTS would represent a prize asset for the LSE, extending its influence in the financial market to fixed income and bond trading. However, the move has reportedly upset MTS' minority shareholders in the investment banking community, who fear the implications for the future cost of trading and clearing and settlement on the platform.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

21 June, 2007
18 June, 2007
13 June, 2007
25 May, 2007
04 April, 2007
23 February, 2007
12 February, 2007
08 November, 2006
21 September, 2006
02 August, 2006
18 January, 2006
01 July, 2005

Related company news


Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
8059 views comments | 34 tweets | 42 linkedin
Former Barclays chief forecasts massive jo...
6871 views comments | 29 tweets | 35 linkedin
BNP Paribas to test contactless payment di...
6295 views comments | 17 tweets | 25 linkedin
WeChat launches mobile wallet in South Afr...
6045 views comments | 19 tweets | 15 linkedin
Hilton confirms data breach
5674 views comments | 11 tweets | 17 linkedin

Featured job

to USD $130K base, double OTE
New York City, NY

Find your next job