Just as the London Stock Exchange (LSE) and Borsa Italiana disclosed that they are in merger discussions, the Milan market took steps to acquire the controlling interest held by NYSE Euronext in MBE Holding, which in turn owns the majority of the MTS group of fixed-income trading platforms, Securities Industry News reports.
MTS had been touted as an attractive asset within Euronext in the run-up to that multinational exchange operator’s merger with the parent of the New York Stock Exchange, which was consummated in April.
Euronext, and now NYSE Group, owns 51 percent of MBE Holding, Borsa Italiana 49 percent. But Borsa had an option to purchase the 51 percent in the event of a change in control at Euronext, and it served that notice Thursday, NYSE Euronext disclosed.
“The parties will have three months [from June 20] to agree on the fair market value of MBE Holding’s shares,” the exchange statement said