London Stock Exchange Group Shareholders Approve Borsa Italiana Sale

(Alliance News) - London Stock Exchange Group PLC said Tuesday shareholders approved its sale of ...

Alliance News 3 November, 2020 | 3:27PM
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(Alliance News) - London Stock Exchange Group PLC said Tuesday shareholders approved its sale of Borsa Italiana to Euronext NV.

Earlier in October, LSEG agreed to sell Borsa Italiana parent company London Stock Exchange Group Holdings Italia Spa to Euronext for EUR4.33 billion.

The deal now hinges on approval from Euronext shareholders, as well as the European Commission clearing the transaction.

The sale was an attempt to placate regulators in Europe, allowing LSEG to complete its Refinitiv acquisition. LSEG agreed to buy financial markets data and trading platform provider Refinitiv last year for USD27 billion.

The stock exchange operator has received merger control clearances from the relevant authorities in the US, Australia, Canada and the UAE, bringing the total number of approvals to date to 15.

LSEG expects its Refinitv deal to close in the first quarter of 2021, with the Borsa Italiana sale to follow shortly after that.

Shares in LSEG were 0.8% higher in London on Tuesday afternoon at 8,264.00 pence each.

By Paul McGowan;

Copyright 2020 Alliance News Limited. All Rights Reserved.

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