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Deutsche Boerse Rivals Euronext, CDP With Borsa Italiana Bid (3)

Sept. 11, 2020, 4:30 PM

Deutsche Boerse AG has submitted an offer for exchange operator Borsa Italiana SpA, pitting it against a joint bid from Italian state-backed lender Cassa Depositi e Prestiti SpA and France’s Euronext NV.

The German exchange said in a statement late Friday that it was “offering a high value for the future growth and development of an autonomous Borsa Italiana Group, thereby strengthening its crucial role for the Italian economy and the European capital markets.”

It followed confirmation earlier Friday from Euronext and CDP of their offer. Their bid is set to value Borsa Italiana, owned by London Stock ...