Subscribe to t.me/BizTimes. The sale of the Borsa Italiana, dubbed 'Project Botticelli', will come as a relief for the LSE. 10/09/2020 | 04:41am EDT *: *: * By Anna Isaac and Ben Dummett . premium content on your favourite platforms, Thai king's praise for defiant loyalist draws controversy, JC Penney lenders led by Aurelius seek to slow property sale, AIG settles foreign tax-credit suit for more than US$400m, Ant IPO pricing was determined on Friday, Alibaba founder Jack Ma says, Malaysia's king to consult with rulers amid talk of emergency, Japan mulls 10t yen extra budget to counter coronavirus, Facebook, Twitter CEOs to testify post-election: US Senate panel, Nanofilm IPO shares priced at S$2.59; subscribed 19 times. Euronext leads a consortium of buyers that includes an investment arm of the Italian government and Italian bank Intesa Sanpaolo SpA. It would also bring Milan under euro zone ownership after Britain left the European Union (EU) in a move that would likely please policymakers in Brussels who want to buttress the bloc's capital market. The Italian Stock Exchange, Borsa Italiana, is based in Milan and is the 108th largest exchange in the world. or debate this issue live on our message boards. A tale of two lockdowns: The £570-a-month savings gap between the between the wealthiest and poorest households, Could buying a static caravan in Britain be a wise investment? Some links in this article may be affiliate links. Bitcoin surges to its highest price per coin since the crazy end of 2017: What's behind the latest boom and will it continue? The Italian stock exchange was established in 1998. How to invest through a crisis like coronavirus and protect your money? The London Stock Exchange is selling its Italian counterpart to French markets giant Euronext for about $5.1 billion, the companies announced Friday. Italy Stock Market (FTSE MIB) The FTSE MIB (Milano Italia Borsa) Index is a major stock market index which tracks the performance of 40 leading and most liquid and companies listed on the Borsa Italiana. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies. The But EU regulators threw a spanner in the works after referring the deal for an in-depth probe, over fears that a tie-up of the LSE and Refinitiv could hinder competition in the provision of critical data used across global markets. There are several exchanges that are only open 4 days per week due to low demand and few listed companies. Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. The EU could have sold £9bn in negative return eurozone Covid bonds 14 times over: So why are investors paying interest to hold government debt? We are no longer accepting comments on this article. Why not be the first to send us your thoughts, Borsa Italiana is regulated by the Ministry of Economy and Finance, through the agency CONSOB. Dubbed "Project Botticelli", the LSE's sale of the Milan stock exchange is politically sensitive in Rome because of concerns about who could take control of Borsa's bond platform, which handles trading of Italy's government debt. Its original approach was rumoured to be one of the lower bids, but it teamed up with Italy's sovereign wealth fund CDP Equity and banking group Intesa Sanpaolo. LSE's deal to acquire Refinitiv is under review by the European Commission. MIDAS SHARE TIPS UPDATE: There's gold in them thar SCOTTISH hills with Scotgold! This is Money is part of the Daily Mail, Mail on Sunday & Metro media group, Get a discount code to save on your internet security, Discover a range of promo codes on kitchen appliances, Get great deals on existing and new plans, Upgrade your phones with these mobile deals, Click through to score Dell's discount code, Cars that sip fuel and the gas guzzlers that empty bank accounts: Real world test reveals which models are most - and least - frugal. RESEND Has the V-shaped recovery turned into a double-dip? London Stock Exchange (LSE) entered exclusive talks on Friday to sell Borsa Italiana to Euronext, with the French operator seeing off bids by Deutsche Boerse and Switzerland's Six as it looks to add another bourse to its European network. Euronext will add Milan’s Borsa Italiana … Under the proposed deal, CDP would have a seat on Euronext's supervisory board, with a second Italian candidate proposed as an independent board member who would become chairman of the combined group. We take a look at a new development in the New Forest and the costs involved. We do not write articles to promote products. Will the UK election result boost or sink the stock market? Write to Barcelona Editors at barcelonaeditors@dowjones.com, Sampo Oyj Sampo Group Has Received All Regulatory Approvals For Its Hastings Deal, Share trading in Europe set to be fragmented by Brexit. The stock market in Italy had been gradually accumulating for the second half of 2019, with the FTSE MIB its primary benchmark index. On 3 June 2019, it stood at 19,874, rising 18.2 per cent to 23,506 points by 30 December. The deal, priced at around 4.33 billion euros, equivalent to $5.09 billion, is aimed at alleviating antitrust concerns about the potential bond-trading dominance of the proposed $15 billion tie-up between LSE and Refinitiv. The LSE said it … "The proposed combination of Borsa Italiana and Euronext would create a leading player in continental European capital markets," Euronext said in a statement. Help! Are 'cheap' bank shares an opportunity to profit or a value trap? Baillie Gifford's LEE QIAN tells This is Money why it can. LSE in talks to sell Italy stock exchange to Euronext Fri, Sep 18, 2020 - 5:30 PM London Stock Exchange (LSE) entered exclusive talks on Friday to sell Borsa Italiana to Euronext, with the French operator seeing off bids by Deutsche Boerse and Switzerland's Six as it … Switzerland's Six had no comment, while Deutsche Boerse did not immediately respond to requests for comment. The Italian government had previously signaled that it would favor a deal in which Italy would retain some ownership of the exchange. No comments have so far been submitted. Italy - Indices Stay on top of current data on stocks and sector indices in Italy, including the latest price, daily high, low and change% for each index. If you click on them we may earn a small commission. The London Stock Exchange agreed on Friday to sell Milan's Borsa Italiana to pan-European stock operator Euronext for 4.3 billion euros ($5 billion). London Stock Exchange Group PLC agreed Friday to sell Borsa Italiana Group to a group led by pan-European rival Euronext NV, a divestment meant to smooth approval of its separate, much larger, acquisition of financial-data company Refinitiv Holdings Ltd. London Stock Exchange Group Sells Italian Exchange for $5.1 Billion, Paving Way for Refinitiv Deal. We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns.'. "Borsa Italiana would maintain its current functions, structure and relationships within the Italian ecosystem and preserve its Italian identity and strengths," Euronext said. What next for Neil Woodford and his investors? By Lucy White For The Daily Mail. LSE chief executive David Schwimmer, a former Goldman Sachs banker, appears keen to have a deal fleshed out before Dec 16, when EU competition officials decide whether to approve the London exchange's takeover of Refinitiv. Offers for Borsa valued the Italian exchange up to four billion euros (S$6.42 billion), sources had said before the LSE board met on Thursday to review the bids on the table. Refinitiv owns bond-trading platform TradeWeb. 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