Euronext CEO Stéphane Boujnah is contemplating merger opportunities with Euroclear, reports UK-based Financial News (paywalled). In an interview with the publication, he reveals that Euronext is open to discussing a deal with the CSD operator.
“A combination of Euronext and Euroclear would be synergetic,” Boujnah says, but clarifies that currently “there is no intention either on the board or the management of Euroclear to consider any dialogue in that direction”. He did not reveal whether his organisation has made an approach to the CSD operator.
It’s not the first time Boujnah has mentioned an interest in partnering with Euroclear – the subject has also been brought up in a 2021 interview with Bloomberg. His interest in the firm lies mainly in its CSDs in the Netherlands, Belgium, and France, which he would like to add to Euronext’s network. “There is a convergence of the shareholder base of Euronext and Euroclear,” he says. The two organisations’ shared investors include French state owned bank Caisse des dépôts et consignations and Belgian sovereign wealth fund SFPIM.
According to Financial News, Euronext is Euroclear’s 10th largest stakeholder with a 3.5 per cent stake. Boujnah’s biggest takeover, since coming on board Euronext in 2015, is the €4.4 billion acquisition of London Stock Exchange Group’s (LESG) Borsa Italiana in 2021.
