London Stock Exchange in merger talks with Milan bourse.
The London Stock Exchange 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 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, has apparently prompted the LSE to seek measures to counter expansion of U.S. bourses, analysts say.