Euronext chief Boujnah reflects on “transformational” deal in post-Brexit Europe
Stéphane Boujnah, the CEO and Chairman of the Managing Board of Euronext, completed in late April the e4.4 billion (£3.2bn) acquisition of Borsa Italiana Group from the LSE Group. By Luke Jeffs The deal is by-far the largest in Euronext’s history and transforms the exchange group from a respectable third in Europe behind the London Stock Exchange and Deutsche Boerse to a serious contender at the heart of the post-Brexit European Union. Boujnah told Global Investor the Italian deal is huge for his firm. “This transaction is transformational for Euronext. After this transaction,
Autumn Special 2021
25% of the equity traded in Europe is traded on Euronext, average daily volumes are approximately €12bn and 29 of the EuroStoxx 50 are listed on Euronext.” He is also keen to benchmark his new book against those of his main rivals. “The aggregate market capitalisations of the companies listed on Euronext is approximately €6.4 trillion compared to €2.1tn in Frankfurt and approximately €3.2tn in London. So the aggregate market capitalisation
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of Euronext markets is approximately twice the size of the London exchange and three times the size of the Frankfurt exchange.” Boujnah, who became head of Euronext in late 2015, can look back with some satisfaction at how far the group has progressed under his leadership. “Following this transaction, Euronext has become extremely relevant. Euronext at the time of the IPO in June 2014 was a company with
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DERIVATIVES
STÉPHANE BOUJNAH, EURONEXT
