Pan-European stock exchange Euronext has begun talks to buy the Athens Stock Exchange (ATHEX) in a €399 million (US$470 million) scrip transaction that would continue its continental bourse expansion.
Euronext said the potential offer for one of its shares, which traded at €145.10 on 30 June 2025, would value ATHEX shares at €6.90 each.
“As the leading European market infrastructure, Euronext is positioned as the backbone of the European Savings and Investments Union, in the context of a growing need to enhance the European Union’s global competitiveness,” it said in a news release.
“A potential combination with ATHEX would deliver on Euronext’s ambition to consolidate European capital markets with growth and synergy opportunities.
“The combined Group would foster the harmonization of European capital markets, running on a unified trading and post-trade technology and operating on a cross-border clearing framework.”
The Greek Finance Ministry welcomed the offer, according to Reuters.
"A possible acquisition of the Athens Stock Exchange by Euronext constitutes a practical vote of confidence in the stability and positive course of the Greek economy," the Ministry was quoted in a story as saying.
Euronext shares (EPA: ENX) closed at €145.10 on Tuesday, down €0.10 on the day, giving it a market capitalisation of €14.972 billion, while ATHEX shares rose €0.04 to €6.03, capitalising it at €348.836 million.