Euronext today acknowledges that the European Commission has conditionally approved, under the EU Merger Regulation, London Stock Exchange Group’s (LSEG) proposed acquisition of Refinitiv.
This approval further improves the certainty of execution of Euronext’s contemplated acquisition of the Borsa Italiana Group (the “Transaction”) by satisfying one of the major conditions for the completion of the Transaction. The European Commission’s decision follows the approval of the Transaction by LSEG shareholders on 3 November 2020, by the German Federal Cartel Office on 11 November 2020, by Euronext’s shareholders on 20 November 2020, and the foreign direct investment clearance of the Transaction by the Italian Council of Ministers received on 11 December 2020.
The contemplated acquisition of the Borsa Italiana Group by Euronext is still subject to regulatory approvals in several jurisdictions, a declaration of non-objection from Euronext’s College of Regulators, approval of Euronext as a suitable purchaser by the European Commission and LSEG’s acquisition of Refinitiv. Euronext expects to complete the Transaction in the first half of 2021.