(Alliance News) - The Borsa Italiana case has reached Parliament, coinciding with the Banking Commission's first visit to Piazza Affari, as reported by MF-Milano Finanza on Friday.
The meeting at Palazzo Mezzanotte, scheduled months ago following the testimony of CEO Fabrizio Testa, comes at a sensitive time: CDP is preparing to file a fourth lawsuit in Amsterdam against Euronext, the group that controls Borsa Italiana and in which Cassa holds an 8% stake.
At the heart of the dispute lies the interpretation of the shareholders' agreements signed in 2020, when Euronext acquired Borsa Italiana from the London Stock Exchange. CDP claims the right to independently appoint the Italian leadership, while Euronext maintains it is the sole shareholder of Borsa. To date, the Cassa has lost two urgent appeals, while the cases on the merits remain pending.
The Commission met yesterday with the leadership of Borsa Italiana, MTS, Elite, and Euronext. Chairman Pierantonio Zanettin praised the company's performance but expressed hope for a political rather than a judicial resolution. Euronext CEO Stéphane Boujnah is scheduled to be heard in Rome on May 21, while the testimonies of CDP CEO Dario Scannapieco and Minister Giancarlo Giorgetti are expected in June.
Other topics addressed included the strike by Borsa Italiana employees and concerns regarding the potential offshoring of activities following the Euronext acquisition. However, according to the Commission, there are no signs of a loss of expertise: headcount has risen from 665 in 2020 to 871 today, and one-third of the Euronext group's new hires are Italian personnel.
Meanwhile, Borsa Italiana continues to grow: revenues have increased from EUR466 million in 2020 to EUR730 million in 2025, accounting for approximately 40% of the Euronext group's turnover. Taxes paid in Italy and dividends received by CDP have also increased, while the value of the stake in Euronext has surpassed EUR1 billion.
By Chiara Bruschi, Alliance News reporter
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