London Stock Exchange may sell Milan bourse

The London Stock Exchange Group (LSE) is considering selling part or all of Borsa Italiana to facilitate the process of getting the green light for regulation Refinitive acquisition.

A year ago, LSEG announced a $ 27 billion blockbuster acquisition of Refinitiv (RM 114.5 billion) market Information giant against USA Titan Bloomberg. LSE owns MTS Markets, one of the best bond trading venues in Europe with a daily turnover of EUR 100 million, while Refinitiv has a stake in Tradeweb, which has a large share of the bond trading market in North America.

David Schwimmer, CEO of LSE, added that this was a good financial performance and demonstrated the group's strong operational resilience. "We are continuing our dialogue with the European Commission, it is constructive."

LSE bought Borsa Italiana in 2007 for 1.6 billion euros.

LSEG announced a $ 27 billion blockbuster acquisition of Refinitiv a year ago to create a market information giant that could compete with the US titan Bloomberg.

Schwimmer said the end of the UK Brexit transition in December would not mean a new UK competition review for the refinitive agreement if it weren't completed this year.

Exchange companies such as Euronext or Deutsche Börse may be interested in taking over Borsa Italiana.

The Italian government, led by the populist party of the five-star movement, has described the exchange as "strategic capital" and has tried to bring it back to the Italian borders.

5-Star's legislature on Friday urged Rome to "take any initiative" to get a competitive offer for Borsa Italiana.

The Board also announced the completion of the US Department of Justice's antitrust investigation into the same potential transaction without remedial action. On Friday, when an increase in earnings was reported in the first half of the year, LSE now expects the refinitive deal to be completed by early 2021, suggesting a period that may be longer than previously indicated.

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