25 May 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Nyse Euronext enters bidding for Borsa Italiana

22 June 2007  |  4603 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  |  6094 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  |  5232 views  |  0 comments
Nasdaq bids for OMX

Nasdaq bids for OMX

25 May 2007  |  8828 views  |  0 comments
Borsa Italiana acquires 90% stake in Servizio Titoli

Borsa Italiana acquires 90% stake in Servizio Titoli

04 April 2007  |  3926 views  |  0 comments
LSE and TSE sign alliance agreement

LSE and TSE sign alliance agreement

23 February 2007  |  8735 views  |  0 comments
LSE looks east after Nasdaq bid fails

LSE looks east after Nasdaq bid fails

12 February 2007  |  6783 views  |  0 comments
Deutsche Börse and Borsa Italiana end merger talks

Deutsche Börse and Borsa Italiana end merger talks

08 November 2006  |  7739 views  |  0 comments
OMX inks Borsa Italiana IT services deal

OMX inks Borsa Italiana IT services deal

02 August 2006  |  6229 views  |  0 comments
Borsa Italiana to float; moots LSE alliance

Borsa Italiana to float; moots LSE alliance

18 January 2006  |  8254 views  |  0 comments
Euronext/Borsa Italiana win MTS auction

Euronext/Borsa Italiana win MTS auction

01 July 2005  |  7584 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comVisit www.capgemini.com/worldreportsDownload the paper now

Top topics

Most viewed Most shared
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9488 views comments | 22 tweets | 31 linkedin
BBVA launches Open API marketplaceBBVA launches Open API marketplace
9323 views comments | 43 tweets | 64 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
9110 views comments | 21 tweets | 24 linkedin
UK SMEs missing out on £1.6bn by not accepting 'next gen' paymentsUK SMEs missing out on £1.6bn by not...
6847 views comments | 25 tweets | 18 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6840 views comments | 11 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job