Accountancy

Euronext backs away from bid for Spanish markets operator

Backing away from an offer now paves the way for Swiss exchange group Six’s €2.8bn bid for BME

European stock exchange group Euronext has decided against a bid for Bolsas y Mercados Españoles, the Spanish stock market operator, clearing the way for rival Swiss bidder Six.

The Paris-based company said in a statement on 30 March that the financial terms of a potential competing offer “would not be compatible with value creation and adequate return on invested capital for Euronext shareholders,” despite potential synergies.

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