Euronext Is Considering A Takeover Bid For The Spanish Stock Exchange

Euronext is considering a takeover bid for the Spanish stock exchangeMadrid stock exchange
Euronext is still studying the financial data of BME (Spanish Stock Exchanges and Markets), which could lead to a possible counteroffer for the Spanish Stock Exchange. This was acknowledged yesterday by Euronext Chief Executive Stéphane Boujnah during the presentation of Euronext’s annual results. The company insists that it has not taken a decision yet.
According to government sources, the previous day, Tuesday 11, the Spanish National Commission for Markets and Competition (CNMC) finished processing the application for authorisation of the takeover bid submitted by the Swiss Exchange’s managing company, Six Group, for BME Group (at 34 euros per share, totalling 2,843 million euros).
The National Securities Commision (CNMV) has 30 days to prepare a report and submit it to the government, whose approval of the takeover bid is needed since BME owns “critical infrastructure”, and which should take a decision before mid-May.