Euronext, which owns the Irish Stock Exchange, has submitted an offer for exchange operator Borsa Italiana, pitting it against Frankfurt's Deutsche Boerse in a battle for EU dominance. Euronext said it has made a joint bid with Italian state-backed lender Cassa Depositi e Prestiti (CDP) and Italian bank Intesa Sanpaolo. Borsa Italiana operates the huge Milan stock exchange and is being sold by the Londo Stock Exchange. Euronext confirmed its submission of a non-binding offer to London Stock Exchange Group plc to acquire Borsa Italiana on Monday. Euronext operates the Paris and Amsterdam stock markets, as well as Dublin and other smaller exchanges but Italy would be the largest revenue contributor to the enlarged Euronext group if a deal goes ahead.

Source: Irish Independent September 14, 2020 07:30 UTC