London Stock Exchange in merger talks with Milan bourse.
LONDON, June 20 Kyodo
The London Stock Exchange London Stock Exchange
London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. on Wednesday confirmed that it is conducting talks with the Milan bourse, Borsa Italiana, over a possible merger.
London Stock Exchange Group plc said in a statement, ''It is in discussions with Borsa Italiana S.p.A. to establish whether a merger of the two businesses can be agreed.
''The Board of London Stock Exchange Group plc will make a further announcement as appropriate,'' the statement said.
The merger talks by the two European stock exchanges are apparently meant to counter expansion of U.S. bourses through their acquisitions of European exchanges amid a global realignment of bourses in the world.
The LSE has rejected buyout bids by Nasdaq Stock Market Nasdaq stock market
The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. Inc., the New York-based operator of the tech-heavy Nasdaq market as well as by a big investment bank.
But the recent acquisition of Euronext NV, the pan-European stock exchange operator, by NYSE Group Inc., the operator of the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , has apparently prompted the LSE to seek measures to counter expansion of U.S. bourses, analysts say.