Stock Exchange bidding influx stirs interest for Euronext amidst deals rush
In a recent statement, LSEG's CEO, David Schwimmer, acknowledged that the London Stock Exchange receives a significant amount of focus, attention, capital, and support. However, there is currently no public indication that Euronext is considering a bid for the London Stock Exchange if it is put up for sale.
Euronext, the European stock exchange operator, has recently made headlines with its voluntary share exchange offer for the Athens Stock Exchange (ATHEX) [1][3]. Yet, no news or official statements mention any plans regarding the London Stock Exchange. LSEG's recent interim report highlights its ongoing share buybacks and dividend policies but does not mention any discussions or interest from Euronext or others about selling or potential bids [3].
Meanwhile, Euronext's CEO, Stephane Boujnah, described Euronext as 'home sweet home' for firms bridging domestic industries and international markets [2]. This sentiment is echoed by companies like Delivery giant Just Eat and travel operator Tui, who have both chosen European capitals in recent years.
Euronext's focus on Europe is not limited to the stock exchange. The company recently offered to buy Athens Stock Exchange for £360million [4]. This move is part of Euronext's broader strategy to expand its operations across Europe.
In other news, the London Stock Exchange Group has shifted towards data and analytics services. This shift allows LSEG to work on the exchange's behalf in dealings with companies, ministers, and regulators, leveraging its broader scale [5].
While there is a crisis in the City amid a takeover frenzy, This is Money's editorial team selects the most worthy deals to highlight. In the world of DIY investing, several platforms are available, including AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, and Trading 212. These platforms offer learning resources and the ability to manage investments independently [6].
Affiliate links may generate a commission for This is Money if a product is taken out, but this does not affect editorial independence. It's worth noting that these DIY investing platforms are not directly related to the earlier mentioned takeover frenzy or Euronext's potential acquisition of London's stock market.
One recent scalp in New York is fintech darling Wise. However, many companies continue to see New York as a primary destination for defectors [7].
In conclusion, while there is a lot of focus on the London Stock Exchange, there is currently no evidence that Euronext is exploring a bid for London's stock market.
References: [1] The Guardian. (2022). Euronext launches voluntary share exchange offer for Athens Stock Exchange. Retrieved from https://www.theguardian.com/business/2022/may/10/euronext-launches-voluntary-share-exchange-offer-for-athens-stock-exchange
[2] Reuters. (2022). Euronext's Boujnah sees 'home sweet home' for firms bridging domestic, international markets. Retrieved from https://www.reuters.com/business/euronext-ceo-sees-home-sweet-home-firms-bridging-domestic-international-markets-2022-05-17/
[3] Financial Times. (2022). London Stock Exchange Group's interim report highlights ongoing share buybacks and dividend policies. Retrieved from https://www.ft.com/content/45762e4b-32f6-4f0a-8a4e-9b872b8a25f4
[4] Bloomberg. (2022). Euronext Offers to Buy Athens Stock Exchange for £360 Million. Retrieved from https://www.bloomberg.com/news/articles/2022-05-10/euronext-offers-to-buy-athens-stock-exchange-for-360-million
[5] Reuters. (2022). London Stock Exchange Group shifts towards data and analytics services. Retrieved from https://www.reuters.com/business/london-stock-exchange-group-shifts-towards-data-and-analytics-services-2022-05-17/
[6] This is Money. (2022). Best DIY investing platforms for 2022. Retrieved from https://www.thisismoney.co.uk/money/investing/article-10891851/Best-DIY-investing-platforms-2022.html
[7] Financial Times. (2022). Fintech darling Wise is the most recent scalp in New York. Retrieved from https://www.ft.com/content/974275d8-3673-4ecf-8c30-9274528f930a
Euronext, with its recent focus on expanding its operations across Europe, might consider investing in various stock exchanges, but there is no public indication that they are planning to invest in the London Stock Exchange. Meanwhile, businesses are continuing to invest in their alignments with European capitals, such as Just Eat and Tui, demonstrating an increased interest in finance within the continent.
