Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Börse AG    DB1   DE0005810055

DEUTSCHE BÖRSE AG

(DB1)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

London Stock Exchange may sell Milan bourse to secure Refinitiv deal

share with twitter share with LinkedIn share with facebook
07/31/2020 | 04:47am EDT
Pedestrians pass the London Stock Exchange in London

The London Stock Exchange (LSE) said on Friday it may sell all or part of Borsa Italiana to help get its $27 billion takeover of Refinitiv over the line, a move that could trigger a bidding war among European exchanges for the Milan assets.

The London exchange operator said that it had begun "exploratory discussions" which could result in MTS, Borsa Italiana's bond trading platform, or its entire Italian arm being sold.

LSE announced the proposed Refinitiv acquisition last year, which will broaden its trading business and make it a major distributor and creator of market data, a profitable and fast growing sector. It will also make it a rival to Bloomberg.

The European Union's antitrust regulators are currently reviewing the deal and expressed concern in June about the combined company's large market share in the trading of European government bonds because both MTS' trading venue and Refinitiv's Tradeweb are already market leaders.

LSE Chief Executive David Schwimmer told reporters there could be "potential benefits" to selling off the Italian exchange group as a package rather than splitting off MTS.

LSE bought Borsa Italiana for 1.6 billion euros ($1.9 billion) in 2007.

"We are continuing our dialogue with the European Commission, and I would say that dialogue is very constructive," Schwimmer said.

LSE, which reported a rise in first-half profit on Friday, said it now expects the Refinitiv deal to complete by early 2021, suggesting a potentially longer timeline than the end of 2020 as previously indicated.

Refinitiv, which is 45%-owned by Thomson Reuters,, the parent company of Reuters News, declined to comment.

LSE said it was seeing good progress with foreign investment, antitrust and other regulatory approvals for the Refinitiv transaction, and that integration planning was well developed.

Schwimmer said the end of Britain's Brexit transition arrangements in December would not mean a new UK competition probe into the Refinitiv deal if it was not completed this year.

BIDDING FIELD

Rival exchanges Euronext and Deutsche Boerse are both expected to be interested in the LSE's Italian operations, banking sources have said.

Euronext has repeatedly expressed interest in adding Borsa Italiana to its pan-European platform while Deutsche Boerse has recently signalled it is looking at expansion opportunities.

Neither immediately responded to requests for comment early on Friday.

Italy views the Milan Exchange as a "strategic asset" but several sources have said the governing 5-Star Movement is at odds with the Treasury over the future of the exchange.

Lawmakers of 5-Star urged Rome on Friday to take "every initiative needed" to arrange a competitive bid for Borsa Italiana. They recently crafted a proposal with the help of Mediobanca to form a bidding consortium for Borsa which would see Italy's biggest financial institutions teaming up with state lender Cassa Depositi e Prestiti (CDP).

Italy has recently approved golden power legislation to block takeovers of key companies in sectors including financial infrastructure.

The London exchange said the U.S. Department of Justice has closed its antitrust investigation into the Refinitiv deal without seeking changes.

LSE reported on Friday that its first half profit rose 8% to 575 million pounds ($755 million), boosted by a strong showing in its post-trade and FTSE Russell business.

($1 = 0.7613 pounds)

($1 = 0.8422 euros)

By Huw Jones and Pamela Barbaglia


Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG -0.18% 137.75 Delayed Quote.-1.71%
EURO / BRITISH POUND (EUR/GBP) 0.02% 0.90964 Delayed Quote.6.84%
EURONEXT N.V. -0.16% 93.55 Real-time Quote.28.77%
LONDON STOCK EXCHANGE PLC -0.92% 8438 Delayed Quote.8.88%
THOMSON REUTERS CORPORATION -0.07% 107.63 Delayed Quote.15.87%
share with twitter share with LinkedIn share with facebook
All news about DEUTSCHE BÖRSE AG
10/23DEUTSCHE BÖRSE AG : quaterly earnings release
10/23DEUTSCHE BÖRSE : DAX 50 ESG Index licensed to Württembergische Lebensversicherun..
PU
10/23DEUTSCHE BÖRSE : fashionette AG share subscription offer launched in Scale segme..
PU
10/21DEUTSCHE BÖRSE : Compleo Charging Solutions AG new in Prime Standard on the Fran..
PU
10/20Euronext resumes trading as outage raises concentration concerns
RE
10/19Euronext plagued by two glitches Monday, latest exchange to go down
RE
10/19FACTBOX : From hungry squirrels to cyberattacks, exchange outages roil markets
RE
10/19FACTBOX-From hungry squirrels to cyberattacks, exchange outages roil markets
RE
10/19Tokyo Stock Exchange plans new protocols after trading halt
RE
10/19Tokyo Stock Exchange to draw up new rules to deal with trading halts
RE
More news
Financials
Sales 2020 3 241 M 3 844 M 3 844 M
Net income 2020 1 147 M 1 361 M 1 361 M
Net Debt 2020 1 786 M 2 119 M 2 119 M
P/E ratio 2020 22,3x
Yield 2020 2,25%
Capitalization 25 267 M 29 909 M 29 970 M
EV / Sales 2020 8,35x
EV / Sales 2021 8,11x
Nbr of Employees 6 427
Free-Float 96,5%
Chart DEUTSCHE BÖRSE AG
Duration : Period :
Deutsche Börse AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEUTSCHE BÖRSE AG
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 158,66 €
Last Close Price 137,75 €
Spread / Highest target 35,8%
Spread / Average Target 15,2%
Spread / Lowest Target -2,00%
EPS Revisions
Managers
NameTitle
Theodor Weimer Chief Executive Officer
Martin Jetter Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Gregor Pottmeyer Chief Financial Officer
Mareike Sich Head-Financial, Corporate & IT
Sector and Competitors
1st jan.Capitalization (M$)
DEUTSCHE BÖRSE AG-1.71%29 909
HONG KONG EXCHANGES AND CLEARING LIMITED45.45%60 373
INTERCONTINENTAL EXCHANGE, INC.6.92%55 766
LONDON STOCK EXCHANGE PLC8.88%39 114
MARKETAXESS HOLDINGS INC.47.43%21 544
NASDAQ20.56%21 368