Europe’s largest stock exchange operator Euronext is looking for more acquisitions in order to establish its position in the region’s capital market, says Financial Times.
“Combining Euronext with any major stock exchange in Europe could create a lot of synergistic benefits,” says Euronext’s CEO Stephane Boujnah FT:lle.
“We follow the view and are ready to strike or jump in any situation.”
Boujnah has led Euronext since 2015. He previously worked as a mergers and acquisitions banker in Santander and German Bankissa. He has expanded the Euronext group in recent years with several acquisitions, such as the purchase of Borsa Italiana, which owns the Milan Stock Exchange.
Although he declined to comment on specific acquisition targets, Boujnah has previously told the Financial Times that he is eager to buy Nasdaq’s Nordic business, which also includes the Helsinki Stock Exchange.
Exchange purchases would strengthen Euronext’s position as Europe’s largest listing and trading venue. Currently, the group owns stock exchanges in Amsterdam, Paris and Lisbon, among others.
During the last decade, several large European exchange operators have tried to merge their operations, but failed. In 2017, European competition authorities blocked the merger of Deutsche Börse and the London Stock Exchange Group.
Euronext’s turnover in the second quarter was 413 million euros, which is 12 percent more than in the same period last year.
Source: www.arvopaperi.fi
