Euronext Confirms it’s Considering Borsa Italiana Acquisition

Euronext, the operator of the pan-European exchange, announced this Friday in a brief statement that it is in discussions with Cassa Depositi e Prestiti (CDP) to acquire the business and key operational assets of Borsa Italiana.

The announcement from Euronext does not provide much detail, other than confirming the fact that it’s in talks with CDP to submit an offer to the London Stock Exchange Group plc (LSEG) for the acquisition. According to the statement, Euronext will provide further details “when appropriate”. 

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LSEG considering parting with Borsa Italiana

For Italy, one of the most prominent participants in its capital market is the Borsa Italiana, the country’s only stock exchange, which was founded in 1808 by Eugenio Napoleone. The exchange is owned by LSEG.

Earlier this year in July, LSEG revealed that it was considering selling a part or maybe all of Borsa Italiana to ease the process of receiving the regulatory green light for the Refinitiv acquisition.

Euronext acquisition spree

Euronext has been on an acquisition spree both this year and last year. As Finance Magnates reported, mid last year the financial institution went head to head with Nasdaq to acquire Oslo Børs VPS, a Norwegian exchange and central securities depository operator. This battle resulted in Euronext claiming victory.

More recently, the company completed the acquisition of VP Securities, the Danish Central Securities Depository in August after receiving clearance from the Danish Financial Supervisory Authority (FSA) to complete the transaction.

With the acquisition of VP Securities, the company is now a leading CSD operator in Europe, with three CSDs: Euronext VPS in Norway, Interbolsa in Portugal, and VP Securities in Denmark. Together, the CSDs represent €2.2 trillion in assets under custody. This breaks down to 31 million settlement instructions per year and 4.5 million accounts.

In June, the market infrastructure also revealed that it had acquired two Finish compliance platforms – Ticker Software and Sidonnaisuusrekisteri.fi.

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