to sell Milan's Borsa Italiana to pan-European stock operator Euronext for 4.3 billion euros .
The sale depends on LSE's prospective $27 billion acquisition of data provider Refinitiv, the terms of which are under investigation by the European Commission. "We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns," LSE CEO David Schwimmer said in a statement, adding that the exchange is making"good progress" on the Refinitiv deal.
Euronext, valued at about 7 billion euros , will fund the transaction through a combination of a debt and equity hike and existing cash.
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Are you saying Italians cannot run their Stock market or do not know how to make it function? They most be broke.