Bolsas & Mercados Espanoles (BME), operator of the Spanish stock exchange, may consider buying NYSE technology units that IntercontinentalExchange Group Inc. is selling but won’t purchase a stake in European market operator Euronext NV before its initial public offering.
ICE purchased NYSE Euronext in November and is jettisoning parts that it doesn’t want. Investment bank Evercore Partners Inc. was hired to sell technology businesses such as Nyfix, SuperFeed and Wombat, two people familiar with the matter said last month. ICE plans to split off Euronext via an IPO, with hopes of selling a 30 percent stake before that transaction, three people familiar with the matter said in January.
With the technology units, “we’ll see if any of them make sense, we always do,” Javier Hernani, director general of Madrid-based BME, told journalists in London today. Regarding a Euronext stake, “BME is not a financial investor,” he said. “We will talk with them once they are on a listed stage. We are happy to see if there are areas for cooperation.”
Euronext is targeting European banks and fund managers as potential investors, three people familiar with the matter said in January. If regulators approve this group of buyers, the exchange will proceed with its IPO, according to the people, who asked to not be named because the details are private.
European regulators are forcing Atlanta-based ICE to keep a 25 percent stake in the exchange for three years after the IPO, unless it can attract investors prepared to hold stakes for the long term, the people said at the time. Euronext runs exchanges in Paris, Amsterdam, Brussels and Lisbon.
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