Europe’s wilting bourses get fresh cause to unite
12/02/2024 12:36
(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
By Lisa Jucca
MILAN, Feb 12 (Reuters Breakingviews) - The likely
de-listings of Italy’s Saras and Tod’s add to a wider exodus
from euro zone stock exchanges. Part of the problem is a lack of
new European companies to replace them. But Europe could also
help itself if its equity market rules and trading were less
fragmented.
Full view will be published shortly.
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CONTEXT NEWS
Shares in Tod’s, owned by the Della Valle family, rose 17%
on Feb. 12 after an LVMH-backed entity offered to buy 36% of the
high-end luxury group at 42.7 euros a share, to help take it
private. The offer values Tod’s equity at around 1.4 billion
euros.
Italy’s Moratti family has agreed to sell 35% of oil refiner
Saras to global commodity trader Vitol at 1.75 euros a share,
valuing the entire group’s equity at 1.7 billion euros. Vitol
will launch a tender offer at the same time with a view to
taking Saras private.
(Editing by George Hay and Streisand Neto)
((For previous columns by the author, Reuters customers can
click on JUCCA/
lisa.jucca@thomsonreuters.com ; Reuters Messaging:
lisa.jucca.thomsonreuters.com@reuters.net))