LSE in merger talks with Borsa Italiana

21 June 2007

Mumbai: The London Stock Exchange (LSE) is in "advanced talks" with its Italian counterpart Milan''s Borsa Italiana for a possible merger.

LSE, is offering 1-1.5 billion euro for the Italian group, Europe''s seventh largest bourse operator by market capitalisation, newspapers and other media reported

The LSE confirmed the news about the merger moves after the close of European trade, but gave no details.

Agency reports, meanwhile, quoted LSE sources as saying that a takeover deal was unlikely to be finalised soon.

"The board of London Stock Exchange Group will make a further announcement as appropriate," an LSE statement said.

The move is in line with the consolidation wave that is sweeping stock markets across the world.