Euronext has entered discussions to acquire up to 100 percent of the Hellenic Exchanges-Athens Stock Exchange (ATHEX), in a potential share-based deal that would value the Greek operator at €399 million, reports Bloomberg (paywalled).
In a statement, Euronext confirmed it is in talks with ATHEX’s board of directors regarding a possible offer. The proposed transaction would be structured as a share exchange, valuing ATHEX at €6.90 per share on a fully diluted basis.
The move is framed as part of Euronext’s broader strategy to strengthen the integration of national markets within the Eurozone. With existing operations in seven countries, Euronext positions itself as a consolidator of European market infrastructure, aiming to streamline trading and post-trade functions across borders.
Expanding reach
While no binding offer has been made, the deal, if realised, would expand Euronext’s reach into Southeastern Europe. For the post-trade community, such consolidation could support further harmonisation in clearing and settlement, particularly if ATHEX is brought into Euronext’s single technology platform.
ATHEX has yet to issue a public response to the announcement.
