22 May 2018
Visit aciworldwide.webex.com

Nyse Euronext enters bidding for Borsa Italiana

22 June 2007  |  4778 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)

Finextra news in your inbox

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

Related stories

LSE and Borsa Italiana in merger talks

LSE and Borsa Italiana in merger talks

21 June 2007  |  6286 views  |  0 comments
Borsa Italiana looks for data centre savings from HP Cluster Platform

Borsa Italiana looks for data centre savings from HP Cluster Platform

13 June 2007  |  5392 views  |  0 comments
Nasdaq bids for OMX

Nasdaq bids for OMX

25 May 2007  |  9015 views  |  0 comments
Borsa Italiana acquires 90% stake in Servizio Titoli

Borsa Italiana acquires 90% stake in Servizio Titoli

04 April 2007  |  4079 views  |  0 comments
LSE and TSE sign alliance agreement

LSE and TSE sign alliance agreement

23 February 2007  |  8898 views  |  0 comments
LSE looks east after Nasdaq bid fails

LSE looks east after Nasdaq bid fails

12 February 2007  |  6969 views  |  0 comments
Deutsche Börse and Borsa Italiana end merger talks

Deutsche Börse and Borsa Italiana end merger talks

08 November 2006  |  7920 views  |  0 comments
OMX inks Borsa Italiana IT services deal

OMX inks Borsa Italiana IT services deal

02 August 2006  |  6430 views  |  0 comments
Borsa Italiana to float; moots LSE alliance

Borsa Italiana to float; moots LSE alliance

18 January 2006  |  8460 views  |  0 comments
Euronext/Borsa Italiana win MTS auction

Euronext/Borsa Italiana win MTS auction

01 July 2005  |  7798 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/

Top topics

Most viewed Most shared
PayPal agrees $2.2 billion deal for iZettlePayPal agrees $2.2 billion deal for iZettl...
9668 views comments | 16 tweets | 28 linkedin
BBVA begins global roll-out of unified mobile appBBVA begins global roll-out of unified mob...
8452 views comments | 6 tweets | 5 linkedin
Japanese banks join quantum computing hubJapanese banks join quantum computing hub
7129 views comments | 8 tweets | 5 linkedin
SEC lures wannabe crypto investors with fake ICO siteSEC lures wannabe crypto investors with fa...
6673 views comments | 7 tweets | 11 linkedin
Fidelity creates virtual reality chatbotFidelity creates virtual reality chatbot
6481 views comments | 6 tweets | 12 linkedin

Featured job

Basic c. EUR 120K OTE c. EUR 250K plus full benefi...
Paris (preferred) or London

Find your next job