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Euronext Prepares $4 Billion Bid for Borsa Italiana

  • CDP board says joint non-binding bid will be submitted to LSE
  • Switzerland’s SIX Group has also been considering an offer
A cyclist wearing a protective face mask passes the Borsa Italiana, in Milan.

A cyclist wearing a protective face mask passes the Borsa Italiana, in Milan.

Photographer: Francesca Volpi/Bloomberg
Updated on

Deutsche Boerse AG has submitted an offer for exchange operator Borsa Italiana SpA, pitting it against a joint bid from Italian state-backed lender Cassa Depositi e Prestiti SpA and France’s Euronext NV.

The German exchange said in a statement late Friday that it was “offering a high value for the future growth and development of an autonomous Borsa Italiana Group, thereby strengthening its crucial role for the Italian economy and the European capital markets.”