Greece welcomes Euronext's proposed full acquisition of Athens Stock Exchange
In a statement, the Ministry of Economy and Finance said it "takes a very positive view of the potential agreement," describing the offer as "a sign of trust in the stability and positive outlook of the Greek economy."
The Paris-based Euronext Group announced on Monday that it had initiated discussions with the board of ATHEX regarding a possible acquisition of 100 percent of the Greek bourse's shares. The proposed transaction, valued at 399 million euros (about 470 million U.S. dollars), would be executed via a share exchange. According to the proposal, based on Euronext's closing share price of 145.10 euros as of June 30, 2025, each 21.029 ATHEX shares would be exchanged for one Euronext share.
Euronext noted that the offer remains subject to due diligence and further review. "The combined group would operate on a unified trading and post-trade technology platform and a cross-border clearing framework," the company said. It added that the transaction would contribute to the integration of European capital markets and support the transformation of Greece's financial infrastructure.
ATHEX confirmed on Monday that it had received an "unsolicited, non-binding and highly conditional" all-share acquisition proposal from Euronext. The board of ATHEX, together with its financial and legal advisors, is currently assessing the offer from both strategic and financial perspectives. No formal negotiations have yet taken place, the statement said.
Founded in 1876, the Athens Stock Exchange is Greece's main securities market. As of 2023, ATHEX hosted approximately 130 listed companies, mainly in the financial, energy, telecommunications and shipping sectors. Its average daily trading volume ranges between 80 million and 100 million euros.
According to its official website, Euronext is responsible for around 25 percent of Europe's equity trading and operates exchanges in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris. The group has over 1,800 listed companies with a combined market capitalization exceeding 6 trillion euros. (1 euro = 1.18 U.S. dollars)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
26 minutes ago
- New Straits Times
Stocks cheer the art of Trump's trade deals after EU agreement
The US struck a framework trade agreement with the European Union, imposing a 15 per cent import tariff on most EU goods – half the threatened rate – a week after agreeing to a trade deal with Japan that lowered tariffs on auto imports. Countries are scrambling to finalise trade deals ahead of the Aug 1 deadline, with talks between the US and China set for Monday in Stockholm amid expectation of another 90-day extension to the truce between the top two economies. "A 15 per cent tariff on European goods, forced purchases of US energy and military equipment and zero tariff retaliation by Europe, that's not negotiation, that's the art of the deal," said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities. "A big win for the US." S&P 500 futures rose zero point four per cent and the Nasdaq futures gained 0.5 per cent, while the euro firmed across the board, rising against the dollar, sterling and yen. European futures surged nearly one per cent. In Asia, Japan's Nikkei slipped after touching a one-year high last week while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.27 per cent, just shy of the almost four-year high it touched last week. While the baseline 15 per cent tariff will still be seen by many in Europe as too high, compared with Europe's initial hopes to secure a zero-for-zero tariff deal, it is better than the threatened 30 per cent rate. The deal with the EU provides clarity to companies and averts a bigger trade war between the two allies that account for almost a third of global trade. "Putting it all together, what we've seen with Japan, with the EU, with the talks which are due to be held in Stockholm between the US and China, it really does negate the risk of a prolonged trade war," said Tony Sycamore, market analyst at IG. "The importance of the August tariff deadline has significantly been diffused." The Australian dollar, often seen as a proxy for risk sentiment, was 0.12 per cent higher at US$0.65725 in early trading, hovering around the near eight-month peak scaled last week. FED, BOJ AWAIT In an action-packed week, investors will watch out for the monetary policy meetings from the Fed and the BOJ as well as the monthly US employment report and earnings reports from megacap companies Apple, Microsoft and Amazon. While the Fed and the BOJ are expected to stand pat on rates, comments from the officials will be crucial for investors to gauge the interest rate path. The trade deal with Japan has opened the door for the BOJ to raise rates again this year. Meanwhile, the Fed is likely to be cautious on any rate cuts as officials seek more data to determine if tariffs are worsening inflation before they ease rates further. But tensions between the White House and the central bank over monetary policy have heightened, with Trump repeatedly denouncing Fed Chair Jerome Powell for not cutting rates. Two of the Fed Board's Trump appointees have articulated reasons for supporting a rate cut this month. ING economists expect December to be the likely starting point for rate cuts, but it "may be a 50 basis point cut, if the evidence on weaker jobs and GDP growth becomes more apparent as we anticipate." "This would be a similar playbook to the Federal Reserve's actions in 2024, where it waited until it was completely comfortable to commit to a lower interest rate environment," they said in a note.
New Straits Times
26 minutes ago
- New Straits Times
Gold hits near two-week low after US, EU agree to tariff deal
NEW YORK: Gold prices fell on Monday to their lowest in nearly two weeks, as a framework trade agreement between the United States and European Union reduced appetite for safe-haven assets. Spot gold was down zero point one per cent at US$3,332.39 per ounce, as of 0020 GMT, after touching its lowest level since July 17. US gold futures edged zero point one per cent lower to US$3,332.50. The US struck a framework trade agreement with the European Union on Sunday, imposing a 15 per cent import tariff on most EU goods – half the threatened rate – and averting a bigger trade war between the two allies that account for almost a third of global trade. The agreement mirrors key parts of the framework accord reached by the US with Japan, but like that deal, it leaves many questions open, including tariff rates on spirits, a highly charged topic for many on both sides of the Atlantic. Investor sentiment improved following the deal, with European currencies and US stock index futures trading higher. Senior US and Chinese negotiators will meet in Stockholm on Monday to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce keeping sharply higher tariffs at bay. The US dollar index eased zero point one per cent, making greenback-priced bullion less expensive for overseas buyers. The Federal Reserve is widely expected to leave its benchmark interest rate in the 4.25–4.50 per cent range at the conclusion of a two-day policy meeting on Wednesday. Fed Chair Jerome Powell has indicated the central bank should wait for further economic data before making any rate adjustments. US President Donald Trump said on Friday he had a positive meeting with Powell, suggesting the Fed chief might be inclined to lower rates. Spot silver was up zero point one per cent at US$38.17 per ounce, while platinum gained zero point nine per cent to US$1,413.50 and palladium rose zero point five per cent to US$1,225.25.
The Sun
26 minutes ago
- The Sun
China showcases humanoid robots at Shanghai AI conference
SHANGHAI: Serving craft beer, playing mahjong, and even boxing—humanoid robots took center stage at the World AI Conference (WAIC) in Shanghai this weekend, showcasing China's rapid advancements in artificial intelligence. The event, attended by over 800 companies, featured more than 3,000 products, with humanoid robots stealing the spotlight through their quirky yet impressive demonstrations. Premier Li Qiang opened the conference by announcing China's plans to establish a new AI governance body, emphasizing the need to balance innovation with risk management. However, the expo itself buzzed with excitement rather than concern. 'Demand is currently very strong, whether in terms of data, scenarios, model training, or artificial construction. The overall atmosphere in all these areas is very lively,' said Yang Yifan, R&D director at Shanghai-based AI firm Transwarp. This year's WAIC follows a major milestone for Chinese AI—startup DeepSeek's January unveiling of an AI model rivalling top US systems at a fraction of the cost. Among the exhibits, robots drummed to Queen's 'We Will Rock You,' played curling, and served drinks, though some movements remained slightly unrefined. Still, the progress from previous years was evident. China has heavily invested in robotics, with some experts suggesting it may already hold an edge over the US. Unitree, a Hangzhou-based firm, showcased its G1 android, which performed fluid boxing moves, and announced the upcoming launch of a full-sized humanoid robot priced under $6,000. Beyond hardware, AI companions—ranging from digital businessmen to warriors—interacted with visitors via screens. Baidu introduced its latest 'digital humans,' AI agents capable of decision-making and collaboration. The company reported that these avatars outperformed human streamers in e-commerce sales during a recent live broadcast. Baidu also revealed it secured approval for fully driverless robotaxis in Shanghai's Pudong district, marking another step in AI integration. Despite concerns about job displacement, Baidu's Wu Chenxia stressed AI's role in enhancing efficiency rather than replacing humans. Visitors remained captivated by the technology on display. 'When it comes to China's AI development, we have a comparatively good foundation of data and also a wealth of application scenarios,' said Yang. 'There are many more opportunities for experimentation.' - AFP
