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Stock exchange Euronext acquires Borsa Italiana in deal worth more than $ 5 billion

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Euronext on Thursday completed the acquisition of Borsa Italiana from the London Stock Exchange Group in a deal worth 4.4 billion euros ($ 5.34 billion).

The move was first announced in October and received the green light from European regulators in March.

Euronext’s CEO said the new group was positioned to become the leading location in Europe for listing and secondary markets for both debt and equity financing.

LONDON — Thursday completed the acquisition of Borsa Italiana from the London Stock Exchange Group in a € 4.4 billion ($ 5.34 billion) deal.

The move was first announced in October and received the green light from European regulators in March.

Euronext, a European exchange operator, rescheduled its leadership in January in preparation for the acquisition of the Italian group.

Euronext CEO Stéphane Boujnah said Thursday that “the significantly scaled-up Group is now positioned as the leading location in Europe for quotations and secondary markets for both debt and equity financing.”

“In addition, Euronext is expanding its business diversification with new trading and clearing options for fixed income,” he added.

Euronext’s data center will be located in Bergamo, Italy and should be operational from 2022.

“The migration is planned in response to multiple factors, including the acquisition of the Borsa Italiana Group, the momentum created by Brexit and a strong rationale for establishing the Group’s core data center in a country where Euronext runs a large company,” said Euronext . in a statement.

Borsa Italiana reported a stable turnover of 124.1 million euros on Thursday for the first quarter of 2021. Meanwhile, Euronext reported a turnover increase of 5% to 249.2 million euros for the same period.