LSE Expected to Approve Borsa Sale to Euronext on Thursday: Sources | Investing News

MILAN (Reuters) – The board of the London Stock Exchange

is expected to approve on Thursday a binding offer by pan-European bourse operator Euronext

for the Milan stock exchange, three sources familiar with the matter said.

LSE entered exclusive talks with Euronext last month, after the Paris bourse owner saw off competition from Deutsche Boerse

and Swiss rival SIX for Borsa Italiana.

LSE is selling Borsa as part of regulatory remedies to see through its $27 billion purchase of data provider Refinitiv, which is 45% owned by Thomson Reuters
, the parent company of Reuters News.

The sale of Borsa, which is contingent on the Refinitiv deal going through, is politically sensitive in Italy due to Borsa’s ownership of MTS, the bond platform which handles trading of Italy’s 2.1 trillion euro ($2.5 trillion) government bonds.

To secure the backing of the Rome government, Euronext has teamed up with state agency

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