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Italy Readies Plan To Bolster Market Watchdog Powers

By  |  June 28, 2020

Italy’s ruling parties plan to increase the powers available to market regulator Consob to shield the country’s stock exchange, according to draft legislation seen by Reuters. 

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    Italy’s bourse is owned by the London Stock Exchange (LSE) , which is seeking to acquire data and analytics company Refinitv. Thomson Reuters, the parent company of Reuters News, owns 45% of Refinitiv. 

    European antitrust authorities last week opened an in-depth investigation into the LSE/Refinitiv deal, and the possibility that asset sales will be required to safeguard competition has raised alarm in Italy’s ruling coalition. 

    Rome is closely monitoring the deal as the Italian stock exchange includes MTS, a trading platform of strategic importance for Italian sovereign bonds. 

    Two Italian sources close to the matter told Reuters this week LSE might sell MTS to win the EU’s green light for the Refinitiv deal.

    Full Content: Reuters

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