The London Stock Exchange is expected to gain clearance from its investors this week for the €1.6bn purchase of Borsa Italiana, the Milan exchange, reports The Times. Shareholders speaking for more than 50 per cent of the shares have indicated they will back the deal at Wednesday’s extraordinary meeting, after a nervous few weeks during which it seemed that Nasdaq, with 30 per cent of the LSE after a takeover bid failed in January, might seek to oppose the deal. A board meeting of the New York exchange agreed last week to back the takeover, so removing the last obstacle.

This entry was posted by Gwen Robinson on Monday, August 6th, 2007 at 5:27 and is filed under Capital markets, M&A. Tagged with borsa italiana, lse, nasdaq. Edit this entry.