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London Stock Exchange does not plan to sell Borsa Italiana subsidiary after Refinitiv deal: newspaper

Il Sole 24 Ore said Borsa Italiana unit CEO Raffaele Jerusalmi told it that the LSE considers the Italian exchange operator a strategic subsidiary

Milan
Italian newspapers have speculated that Borsa Italiana could be a target for European stock market operator Euronext

London Stock Exchange Group PLC (LON:LSE) saw its shares rise modestly on Friday after an Italian newspaper reported that the firm does not plan to sell its Borsa Italiana subsidiary after its $27 billion deal to buy data provider Refinitiv.

Newspaper Il Sole 24 Ore said LSE board member and Borsa Italiana unit CEO Raffaele Jerusalmi told it that the FTSE 100-listed firm considers the Italian exchange operator to be a strategic subsidiary.

The move to acquire Refinitiv, confirmed last month, has inevitably triggered speculation about the possible sale of assets to gain anti-trust approval and to fund the deal.

Italian newspapers have speculated that Borsa Italiana could be a target for European stock market operator Euronext.

However, Jerusalmi told Il Sole: “Euronext repeatedly said it was interested in having Borsa Italiana in its network, but Borsa Italiana is not up for sale.”

He added: “Borsa Italiana is a strategic asset for the London Stock Exchange group, which wants to keep investing in Italy.”

In afternoon trade on Friday, LSE shares were 0.9% higher at 7,750p.

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