LSE Seals $5 Billion Borsa Sale to Euronext, Italian Banks

(Bloomberg) — London Stock Exchange Group Plc agreed to sell Borsa Italiana to Euronext NV and two Italian lenders for more than 4.33 billion euros ($5.1 billion), in a deal that will create the largest listing venue in Europe.


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LSE, which is selling Borsa Italiana to get approval from the European Union for its $27 billion Refinitiv deal, announced the transaction in a statement Friday after exclusive talks between the parties started last month.

The London exchange will sell its entire shareholding for 4.3 billion euros in cash plus an unspecified additional amount reflecting the unit’s performance through to the deal’s completion. Euronext shares fell 3.6% in morning trading and LSE shares were up 0.7%. Bloomberg News first reported the agreement Thursday.

Read more: LSE nears $5 billion Borsa sale to Euronext, Italian banks

The deal removes a major hurdle to LSE’s blockbuster tie-up with Refinitiv, which is

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Luxurious Italian properties for sale in Lake Como, Orta, Garda and Maggiore

a view of a city with a mountain in the background

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In Italy’s financial centre Milan, in the affluent region of Lombardy where the country’s coronavirus outbreak started, the usually bustling streets are quiet. The city’s frequently dire air quality has improved but the people continue to frown on those venturing out after lockdown. Barely days go by without another apocalyptic il nuovo normale opinion piece in the Milan-based Corriere della Sera newspaper, as if there is no escape from contagion and fear. Just 70km to the north, nestled on glacial Lake Como and a stone’s throw from neighbouring Switzerland, cypress-filled Bellagio is frequently voted the prettiest town in Europe. Residents here awake to the peal of bells from the 11th-century Basilica di San Giacomo. And the lapping of waves. Songbirds twitter among vivid azaleas just outside sun-filled windows. Stepping on to their balconies, lakeside homeowners breathe crisp, clear air and enjoy views across crystal waters to
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