(Bloomberg) -- Intesa Sanpaolo SpA is likely to be involved in the purchase of Borsa Italiana SpA in a joint bid with Italy’s state-owned lender Cassa Depositi e Prestiti SpA and Euronext, three people with knowledge of the matter said Monday.
The government and Euronext have been weighing the possibility of a joint purchase of Borsa Italiana SpA, which is owned by London Stock Exchange Group Plc, and Intesa Sanpaolo is likely to be involved, the people said, asking to not be identified because the information is private.
In one scenario under discussion, Euronext would end up as the owner of the Italian bourse while Cassa Depositi e Prestiti would get a stake in Euronext, and Intesa would also get a stake.
If it ends up joining with Euronext, the Italian government may aim for CDP to own a stake in the exchange group on par with the 8% held by France’s state-controlled Caisse des Depots et Consignations. Intesa Sanpaolo would wind up with a stake on par with the roughly 2% position held by BNP Fortis Paribas, according to sources explaining the strategy
Mediobanca, Borsa adviser, Euronext and Intesa all declined to comment.
Italy extended market regulator Consob’s veto powers over stake sales, either directly or indirectly, in the country’s stock exchange operator, according to a decree approved last week.
A Borsa Italiana deal would mark another major intervention by the Italian government into listed companies in the last few weeks. Prime Minister Giuseppe Conte’s cabinet halted the sale of a minority stake in Telecom Italia SpA’s network and forced the Benetton family to exit Autostrade per l’Italia.
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