Faster than expected savings increases takeover opportunities, says Euronext By Reuters

© Reuters. FILE PHOTO – The Euronext logo is seen at the financial and business district of La Defense, amid the outbreak of the coronavirus disease (COVID-19), in Paris, France, November 10, 2020. REUTERS/Benoit Tessier

LONDON (Reuters) – Euronext’s integration of Borsa Italiana is reaping faster than expected savings for potential acquisitions, though no “actionable” target has been identified, the pan-European exchange’s CEO Stephane Boujnah said on Thursday.

Euronext acquired the Milan exchange last year, the latest in a string of bourse acquisitions which has made it Europe’s biggest share trading pool, Boujnah said.

Faster-than-anticipated savings and a billion euros in surplus cash means the exchange has more flexibility when it comes to mergers and acquisitions, he added.

“We don’t at the current moment have an identified, actionable target,” Boujnah told Reuters.

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