Euronext in talks with CDP about bid for LSE's Borsa Italiana

Euronext confirmed on Friday that it is in talks with Italian state lender Cassa Depositi e Prestiti (CDP) about submitting an offer to London Stock Exchange to buy Borsa Italiana.

"A further announcement will be made as and when appropriate," Euronext said.

The very brief statement from Euronext followed reports earlier in the week that it was preparing a bid for the Italian stock exchange that values it at $4bn.

LSE announced in July that it had begun discussions to sell part of or all of its Borsa Italiana unit to satisfy European regulators over its deal to buy data provider Refinitiv.