LSE to buy Italian bourse
Afp, London
The London Stock Exchange confirmed Saturday it is buying Borsa Italiana for 1.6 billion euros (2.15 billion dollars), bolstering the LSE amid takeovers of European stock markets by US rivals.Shareholders of the Milan exchange will receive 4.90 LSE Group plc ordinary shares for each existing Borsa Italiana ordinary share, and hold 28 percent of the capital of the new group, according to a joint statement. Based on LSE share prices and euro/pound exchange rates for June 19, the offer values Milan's Borsa Italiana at 1.634 billion euros. The combined group would be worth 5.777 billion euros.
|
|
