Swiss stock exchange SIX is interested in buying its Italian counterpart, according to a newspaper report. The Zurich-based exchange isn’t the only company eager to buy the exchange though.
Borsa Italiana, which owns the Milan stock exchange and the government bond trading platform MTS, has become the focus of a takeover speculation. Four companies are interested in buying the financial-services provider, according to an insider report published by «La Repubblica». One of the four companies is SIX, the Swiss stock exchange operator.
The other companies named as potential pursuers of Borsa Italiana are Deutsche Boerse and a combination of Euronext and CDP, the Italian bank. SIX didn’t want to comment on the rumors, according to a report by Swiss business news agency «AWP».
A first step towards buying the whole group is a bid for MTS, which the report mentioned as a precondition for an eventual takeover.
Building of a Group
The Swiss exchange in June had its offer for Spain’s BME exchange accepted. With the purchase, valued at 2.75 billion francs ($3.03 billion), SIX became the third-largest exchange group in Europe and a top-ten provider of exchange services worldwide. SIX was ready to pay a substantial premium for BME, suggesting that it is strongly interested in achieving scale.
Euronext and Deutsche Boerse were also mentioned as potential buyers of BME.
