Euronext bids 625m euros for Oslo Stock Exchange

Euronext bids 625m euros for Oslo Stock Exchange
File photo: AFP.
European stock market operator Euronext on Monday said it had launched a 625 million euro takeover bid to acquire the Oslo Stock Exchange.

Euronext operates stock exchanges in Paris, Amsterdam, Brussels, Dublin and Lisbon.

In a statement, the operator said it had approached the board of directors of the Oslo Stock Exchange (Oslo Bors VPS) to seek its support for a tender offer of 625 million euros for all outstanding shares in the bourse.

“Euronext strongly believes that Oslo Bors VPS' unique strategic and competitive positioning, including a global leading position in seafood derivatives and a deep rooted expertise in oil services and shipping, would further strengthen Euronext's position as the leading market infrastructure for the financing of the real economy in Europe,” the statement said.