EU green light for the takeover of the Milan Stock Exchange by Euronext

Euronext expects to finalize the transaction, still subject to other regulatory approvals, during the first half of the year.

The European Commission has approved the takeover of the Milan Stock Exchange by Euronext, the pan-European stock operator said on Friday, welcoming the decision.

“Euronext welcomes the approval of the European Commission concerning the proposed acquisition of the Borsa Italiana group,” said a press release from the group which operates the Amsterdam, Brussels, Dublin, Lisbon, Olso and Paris stock exchanges.

“This approval further improves the certainty of the execution of the transaction,” he says.

Euronext expects to finalize the transaction, still subject to other regulatory approvals, during the first half of the year.

Euronext signed an agreement in October with the operator of the London Stock Exchange (LSE) to buy back the Milan Stock Exchange for 4.33 billion euros.

At the end of July, the LSE had let it be known that it was considering selling the Milan Stock Exchange in order to get the green light from Brussels to acquire the American financial data group Refinitiv for 27 billion dollars.

The European regulator validated this operation in January.

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