London Stock Exchange Group PLC (LON:LSE) saw its shares rise modestly on Friday after an Italian newspaper reported that the firm does not plan to sell its Borsa Italiana subsidiary after its $27 billion deal to buy data provider Refinitiv.
Newspaper Il Sole 24 Ore said LSE board member and Borsa Italiana unit CEO Raffaele Jerusalmi told it that the FTSE 100-listed firm considers the Italian exchange operator to be a strategic subsidiary.
The move to acquire Refinitiv, confirmed last month, has inevitably triggered speculation about the possible sale of assets to gain anti-trust approval and to fund the deal.
Italian newspapers have speculated that Borsa Italiana could be a target for European stock market operator Euronext.
However, Jerusalmi told Il Sole: “Euronext repeatedly said it was interested in having Borsa Italiana in its network, but Borsa Italiana is not up for sale.”
He added: “Borsa Italiana is a strategic asset for the London Stock Exchange group, which wants to keep investing in Italy.”
In afternoon trade on Friday, LSE shares were 0.9% higher at 7,750p.