Euronext and Borsa Italiana teamed up together in July to beat eSpeed, Icap and several other bidders to a majority stake in European government bond trading platform MTS.
The deal, which values MTS at €245 million, gives the two exchange groups control over the market leader in electronic fixed-income trading in Europe.
Euronext and Borsa Italian will own at least 51% of MTS through a joint venture. The acquisition will be realized through a capital increase of MTS subscribed by the joint venture and the proceeds will be distributed to existing shareholders.
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