(Reuters) -The Dutch-based operator of pan-European stock exchange Euronext confirmed on Tuesday that it is in talks over a possible acquisition of Athens Stock Exchange (ATHEX). The potential offer
Euronext Negotiates Acquisition of Athens Stock Exchange for $470 Million
(Reuters) -Euronext is in talks to buy up to 100% of the Athens Stock Exchange in a 399 million-euro ($470 million) all-share deal that would be the latest for a group that already operates stock markets in countries including France and the Netherlands.
Euronext said on Tuesday it planned to offer one new share for every 21 shares held by investors in the Athens Stock Exchange (ATHEX), valuing ATHEX stock at 6.90 euros apiece.
ATHEX shares closed on Tuesday at 6.03 euros.
A combination with the Greek company would align with Euronext's ambition to consolidate European capital markets as it sees fragmentation as one of the reasons behind a competitiveness gap with U.S. markets.
Since the start of the year, Euronext has launched a European Common Prospectus and partnered with Deutsche Boerse to try to counter a flight of some European initial public offerings to U.S. markets.
($1 = 0.8490 euros)
(Reporting by Mateusz RabiegaEditing by David Goodman and Mark Potter)
