Borsa Italiana joins the consolidation game
|Capuano: following consolidation
he's keen to see Borsa Italiana list
as soon as possible
Borsa Italiana has finally decided to join the game of market infrastructure consolidation in Europe.
On July 17 the Italian stock exchange received approval from the majority of Monte Titoli's shareholders to acquire the Italian central securities depository - Italy's custody, clearing and settlement house. Borsa Italiana has offered Monte Titoli the equivalent of approximately ¤16 a share with 50.6% to be paid in shares and 43.9% in cash (4.1% was previously owned by the exchange). The exchange also has plans to go public in a step that will take it closer to its goal of consolidation in the pan-European arena.